Posted on 10/13/2006 8:03:54 AM PDT by thackney
HOUSTON — Pipeline operator El Paso Corp. on Thursday said it has submitted applications with federal regulators to construct a new pipeline and expand a receiving terminal near Savannah, Ga., at a cost of $930 million.
A unit of El Paso subsidiary Southern Natural Gas Co., Elba Express Co. LLC, has applied with the Federal Energy Regulatory Commission to build the Elba Express pipeline. The pipeline will transport natural gas from the company's Savannah terminal to markets in Georgia and South Carolina and, by way of interconnects, throughout the East and Southeast.
The 190-mile pipeline will have capacity to move about 1.2 billion cubic feet of natural gas per day.
Another Southern Natural Gas subsidiary, Southern LNG, has applied to expand its Elba Island liquefied natural gas (LNG) receiving terminal near Savannah. The expansion will add 8.4 billion cubic feet of LNG storage, which will more than double capacity to 15.7 billion cubic feet.
El Paso said the projects will be built in two phases, with the first phase of each project scheduled for completion in 2010 and the second phase of each to be done in 2012.
Shares of El Paso rose 7 cents to $13.37 in morning trading on the New York Stock Exchange.
http://www.elpaso.com/breakout/elba.shtm
I guess this is a good thing since we will not produce enough of our own resources, we should get ready to depend more on foreign countries to supply our energy.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.