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Gas News Release
October 2, 2000
Dominion Plans $400 Million Natural Gas Pipeline
Company Cites Growing Regional Demand
as it Announces Open Season to Identify Customers for 200-Mile Greenbrier Pipeline
RICHMOND, Va. – Dominion (NYSE: D) Monday announced that
it has scheduled a 60-day open season to seek customers for its proposed Greenbrier
Pipeline. The pipeline will begin near Dominion’s Cornwell Station near Charleston,
W.Va., and end in Rockingham County, N.C. near the Transcontinental Gas Pipeline.
The pipeline will be sited along a corridor with growing demand in the Appalachian
and Piedmont regions. An exact route will be determined by market interest and
customer location.
The Open Season begins at 8 a.m. Thursday, Oct. 5, and ends
at 5 p.m. on Tuesday, Dec. 5.
The proposed line will have a capacity to transport up to
600,000 dekatherms, or 600 billion BTUs, of natural gas per day. The pipeline
will access natural gas supplies from Canada, Appalachia, the Gulf coast and
Mid-Continent regions.
The Greenbrier Pipeline has an anticipated in-service date
of June 2005, when the company projections show demand will exceed existing
supplies, including regional LNG facilities expected on-line in the interim.
Thos. E. Capps, chairman, president and chief executive officer,
said:
“This fast-growing Mid-Atlantic region continues to enjoy
significant economic expansion. All of the regional demand projections point
to a need for substantial improvements in our energy delivery infrastructure.
This project will help meet this need economically.
“Moreover, as a local company with significant operations
and employees already working in the region, we will be able to site, permit
and construct a project that meets local energy needs in a timely, safe and
environmentally sound manner. This project also conforms to our business plans
to achieve long-term shareholder value while promoting increased competition
and consumer benefit.
“From Dominion’s perspective, Greenbrier will give our growing
natural gas and exploration businesses in West Virginia access to compete for
sales in strong new markets. It will be operating in our geographic region of
focus -- the Mid-Atlantic, Midwest and Northeast regions of the United States,
home to 40 percent of the nation’s demand for energy.
“In short, the Greenbrier Pipeline will advance the interests
of our customers, our communities, and our shareholders.”
Dominion, headquartered in Richmond, Va., is the nation’s
largest fully integrated electric power and natural gas company. Dominion has
a power generation portfolio of more than 19,000 megawatts, which is expected
to grow to more than 28,000 megawatts by 2005. Dominion is also one of the largest
independent oil and natural gas exploration and production companies in North
America, with 2.8 trillion cubic feet of equivalent reserves. The company has
7,600 miles of inter-state natural gas pipeline with more than 650 billion cubic
feet of annual natural gas throughput. Dominion also serves 3.8 million retail
natural gas and electric customers. For more information about Dominion, visit
the company's website at www.dom.com.
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Attention Business Development: For additional information,
contact Joe Kienle, Director-Business Development, at (804) 819-2114 or Cindy
Currey, Manager-Business Development, at (304) 623-8231. Dominion’s electronic
bulletin board and its website also will provide general information about this
open season as it becomes available
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