CLARKSBURG, W.VA. – Dominion Transmission, Inc., (DTI) has
scheduled an open season to solicit interest in up to 6 billion cubic feet of
natural gas storage capacity and 100,000 to 200,000 dekatherms per day of deliverability.
The service will be 30-day to 60-day firm storage service available beginning
in the 2004-2005 winter season for a term of up to 15 years. Storage injections
must be received into Dominion’s North Point and storage withdrawals may be
redelivered at numerous Dominion points, including Leidy.
Dominion’s open season offers a limited opportunity to obtain
firm market-area storage on the Dominion system. This storage should appeal
to marketers, power generation developers and local distribution companies (LDCs)
because of its value, flexibility, and reliability. The final facilities, rates
and capacity for the expansion will be determined by the results of the open
season.
“DTI’s exhaustive review of market fundamentals shows
that Northeast demand increases will be most efficiently met through the use
of seasonal storage with short-haul pipes to market,” said Joe Kienle, director,
business development, for DTI. “Unlike the long-haul pipeline or traditional
151-day service, this product is specially designed for the next phase of Northeast
demand growth. Dominion, as a premier storage provider in the United States,
is committed to serve this demand growth through expansion of our natural gas
storage capability, as demonstrated by this open season and the recently concluded
Mid-Atlantic open season.”
The open season will begin at 8 a.m. EST, April 3, 2002,
and concludes at 5 p.m. EDT, May 3, 2002. Dominion anticipates that the service
will be offered under terms and conditions comparable to its existing Rate Schedule
GSS. Pricing for this service will be determined as a function of the mix of
storage demand and capacity sought by participants in the open season.
For information regarding the project, contact Jeff Keister,
manager of Interstate Marketing, at (304) 627-3286 or Jeffrey.L.Keister@dom.com.
Dominion’s website at www.dom.com and electronic
bulletin board will contain general information about this open season as it
becomes available.
Dominion (NYSE:D), headquartered in Richmond, Va., is the
nation’s largest fully integrated electric power and natural gas company. It
has nearly 4 million retail customers in five states, 21,000 megawatts of electric
generating capacity and 8,000 additional megawatts under development. 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 reserves.
