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Northern Border Pipeline Company Completes Project 2000
Omaha, Nebraska - Northern Border Pipeline Company announced it has completed construction on its Project 2000 and began accepting nominations for initial gas deliveries today. Project 2000 provides 545 million cubic feet per day (MMcf/d) of transportation capacity into a large industrial region of the Midwest via an interconnect with Northern Indiana Public Service Company (NIPSCO) at North Hayden, Indiana. Additionally, the Project expands Northern Border Pipeline's delivery capability into the Chicago area by approximately 30 percent.
Construction of Project 2000, consisting of 34 miles of 30-inch diameter pipeline, one 13,000 horsepower electric-powered compressor station in Illinois and additional horsepower at two Iowa compressor stations, began in March 2001. The project is fully supported by contracts of at least 10 years in duration, and is expected to provide additional revenue to the pipeline of approximately $13 million annually.
"I am pleased to report that this project was completed almost four weeks early and under budget. By completing the extension into Indiana, Northern Border Pipeline is able to increase customer access to a wider array of markets in the Midwest," said Bill Cordes, chairman of the Northern Border Pipeline Management Committee.
Northern Border Pipeline Company is a general partnership that owns and operates a 1,249-mile interstate pipeline that transported approximately 22 percent of all Canadian gas imported into the U.S. in 2000. Northern Border Partners, L.P. (NYSE: NBP), owns a 70 percent general partner interest in Northern Border Pipeline Company. The remaining 30 percent general partner interest is owned by TC PipeLines, LP (Nasdaq: TCLPZ).
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Although Northern Border Pipeline Company believes that its expectations are based on reasonable assumptions, it can give no assurance that such expectations will be achieved. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, regulatory proceedings.
Media Inquiries:
Glenn Herchak / Kurt Kadatz
(403)267-3309
Limited Partner and Analyst Inquiries:
Theresa Jang
(403)920-2050
Toll-free 1-877-290-2772
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