HOUSTON, April 30 /CNW/ - Rockies Express Pipeline LLC today filed an
application with the Federal Energy Regulatory Commission (FERC) requesting a
certificate of public convenience and necessity that would authorize
construction and operation of the 638-mile pipeline segment of its Rockies
Express-East project from Audrain County, Mo., to Clarington, Ohio. Subject to
receipt of regulatory approvals, Rockies Express-East, the final segment of
the Rockies Express Pipeline, is expected to begin interim service as early as
Dec. 30, 2008, and to be fully operational by June 2009.
In mid April, REX received the FERC certificate for the Rockies Express-
West project, 713 miles of 42-inch diameter pipeline that will extend from the
Cheyenne Hub in Weld County, Colo., to an interconnection with Panhandle
Eastern Pipe Line located in Audrain County, Mo. The pipeline will also
interconnect with the pipeline systems of Kinder Morgan Interstate Gas
Transmission, Northern Natural Gas Company, Natural Gas Pipeline Company of
America and ANR. Construction on Rockies Express-West is expected to commence
in May with an in-service target date of Jan. 1, 2008.
Rockies Express Pipeline LLC is a $4.4 billion joint venture of Kinder
Morgan Energy Partners (NYSE: KMP), Sempra Pipelines and Storage, a unit of
Sempra Energy (NYSE: SRE), and ConocoPhillips (NYSE: COP), and is one of the
largest natural gas pipelines to be constructed in North America. When
completed, after receipt of all necessary approvals, the 1,678-mile pipeline
will have a capacity of approximately 1.8 billion cubic feet per day. Binding
firm commitments from creditworthy shippers have been secured for virtually
all of the capacity on the pipeline. KMP is overseeing construction of the
project and will operate the pipeline.
The first 328-mile segment of the Rockies Express project, which runs
from the Meeker Hub in Rio Blanco County, Colo., to the Wamsutter Hub in
Sweetwater County, Wyo., to the Cheyenne Hub, is in service and has a current
capacity of 500,000 dekatherms per day.
Kinder Morgan Energy Partners, L.P. is one of the largest publicly traded
pipeline limited partnerships in America. KMP owns an interest in or operates
approximately 26,000 miles of pipelines and more than 150 terminals. Its
pipelines transport more than 2 million barrels/day of gasoline and other
petroleum products and up to 7 billion cubic feet/day of natural gas. Its
terminals handle over 90 million tons of coal and other dry-bulk materials
annually and have a liquids storage capacity of about 70 million barrels for
petroleum products and chemicals. KMP is also the leading provider of CO2 for
enhanced oil recovery projects in North America.
The general partner of KMP is owned by Kinder Morgan, Inc. (NYSE: KMI),
one of the largest energy transportation, storage and distribution companies
in North America. Combined, the two companies have an enterprise value of more
than $35 billion.
Sempra Pipelines & Storage acquires, builds and operates natural gas
pipelines and storage facilities in Mexico and the United States. Sempra
Energy, based in San Diego, is a Fortune 500 energy-services holding company
with 2006 revenues of nearly $12 billion. The Sempra Energy companies'
14,000 employees serve more than 29 million consumers in the United States,
Europe, Canada, Mexico, South America and Asia.
ConocoPhillips is an integrated petroleum company with interests around
the world. Headquartered in Houston, the company had approximately
38,400 employees, $165 billion of assets and $184 billion of revenues as of
December 31, 2006. For more information, go to http://www.conocophillips.com.
This news release includes forward-looking statements. Although Kinder
Morgan believes that its expectations are based on reasonable assumptions, it
can give no assurance that such assumptions will materialize. Important
factors that could cause actual results to differ materially from those in the
forward-looking statements herein are enumerated in Kinder Morgan's Forms 10-K
and 10-Q as filed with the Securities and Exchange Commission.
This press release contains statements that are not historical fact and
constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. When Sempra Energy uses words like
"believes," "expects," "anticipates," "intends," "plans," "estimates," "may,"
"would," "should" or similar expressions, or when Sempra Energy discusses its
strategy or plans, the company is making forward-looking statements. Forward-
looking statements are not guarantees of performance. They involve risks,
uncertainties and assumptions. Future results may differ materially from those
expressed in the forward-looking statements. Forward-looking statements are
necessarily based upon various assumptions involving judgments with respect to
the future and other risks, including, among others: local, regional, national
and international economic, competitive, political, legislative and regulatory
conditions and developments; actions by the California Public Utilities
Commission, the California State Legislature, the California Department of
Water Resources, the Federal Energy Regulatory Commission and other regulatory
bodies in the United States and other countries; capital markets conditions,
inflation rates, interest rates and exchange rates; energy and trading
markets, including the timing and extent of changes in commodity prices; the
availability of natural gas; weather conditions and conservation efforts; war
and terrorist attacks; business, regulatory, environmental, and legal
decisions and requirements; the status of deregulation of retail natural gas
and electricity delivery; the timing and success of business development
efforts; the resolution of litigation; and other uncertainties, all of which
are difficult to predict and many of which are beyond the control of the
company. These risks and uncertainties are further discussed in the company's
reports filed with the Securities and Exchange Commission that are available
through the EDGAR system without charge at its Web site, http://www.sec.gov
and on the company's Web site, http://www.sempra.com .
Sempra Pipelines & Storage is not the same company as the utilities,
SDG&E or SoCalGas, and Sempra Pipelines & Storage is not regulated by the
California Public Utilities Commission.
CAUTIONARY STATEMENT FOR THE PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF
THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements within the meaning
of the "safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995. Forward-looking statements are statements that contain
projections about our revenues, income, earnings and other financial items,
our plans and objectives for the future, future economic performance, or other
projections or estimates about our assumptions relating to these types of
statements. These statements usually relate to future events and anticipated
revenues, earnings, business strategies, competitive position or other aspects
of our operations or operating results. In many cases you can identify
forward-looking statements by terminology such as "anticipate," "estimate,"
"believe," "continue," "could," "intend," "may," "plan," "potential,"
"predict," "should," "will," "expect," "objective," "projection," "forecast,"
"goal," "guidance," "outlook," "effort," "target" and other similar words.
However, the absence of these words does not mean that the statements are not
forward-looking. The forward-looking statements are based on management's
expectations, estimates and projections about ConocoPhillips and the petroleum
industry in general on the date this statement was released. These statements
are not guarantees of future performance and involve certain risks,
uncertainties and assumptions that are difficult to predict. Further, certain
forward-looking statements are based on assumptions as to future events that
may not prove to be accurate. Therefore, actual outcomes and results may
differ materially from what is expressed or forecast in such forward-looking
statements. Economic, business, competitive and regulatory factors that may
affect ConocoPhillips' business are generally as set forth in ConocoPhillips'
filings with the Securities and Exchange Commission (SEC).
ConocoPhillips is under no obligation (and expressly disclaims any such
obligation) to update or alter its forward-looking statements whether as a
result of new information, future events or otherwise.
For further information:
For further information: Emily Mir Thompson, Media Relations, (713)
369-8060, or Mindy Mills, Investor Relations, (713) 369-9490, both of Kinder
Morgan Energy Partners, L.P.; or Art Larson, Media Relations, (877) 866-2066,
or Glen Donovan, Investor Relations, (877) 736-7727, both of Sempra Energy; or
Charlie Rowton, Media Relations, (281) 293-2701, or Gary Russell, Investor
Relations, (212) 207-1996, both of ConocoPhillips; Web Site: