TULSA, Okla., May 8 /PRNewswire-FirstCall/ -- Williams (NYSE: WMB) and
Puget Sound Energy (PSE, the utility subsidiary of Puget Energy) (NYSE: PSD)
have announced an open season to seek binding commitments from shippers for
participation in the proposed Blue Bridge Pipeline Project. Williams and PSE
would jointly develop Blue Bridge, constructing additional capacity from
Stanfield, Ore., to serve markets in the Pacific Northwest. Blue Bridge would
be operated as part of Williams' Northwest Pipeline system, with service
provided under Northwest's Federal Energy Regulatory Commission Gas Tariff.
PSE would be an anchor shipper on Blue Bridge and may become an equity
investor in the project.
"Both the Puget Sound region and Oregon's Willamette Valley continue to
experience steady growth in their economies and populations - and in their
demand for clean-burning natural gas," said Kimberly Harris, executive vice
president and chief resource officer for PSE. "This project will provide the
additional natural gas supply we'll need to sustain regional growth and
vitality for years to come."
Blue Bridge would include the construction of up to 172 miles of 30- and
36-inch-diameter pipeline and the installation of additional compression
horsepower at Northwest's existing Plymouth, Washougal and Chehalis, Wash.,
compressor stations. The project would provide natural gas transportation
capacity of up to 500,000 dekatherms per day. The majority of the Blue Bridge
route would follow Northwest's existing pipeline corridor, which creates
efficiencies while minimizing the effect on landowners and the environment.
The project would provide Pacific Northwest markets with increased access
to Rocky Mountain gas supplies at Stanfield, Ore. Stanfield is the western
terminus of Williams' and TransCanada's proposed Sunstone Pipeline from Opal,
Wyo. Canadian supplies also would be available to Blue Bridge shippers
through Northwest Pipeline's existing interconnect with Gas Transmission
Northwest. Blue Bridge shippers could deliver to any mainline point on
Northwest's system between Stanfield and Sumas, Wash., including the major
market areas of Portland and Seattle.
"As the demand for natural gas continues to grow in the Pacific Northwest,
Blue Bridge would provide shippers with a number of attractive options for
accessing gas supplies from both the Rocky Mountains and Canada," said Phil
Wright, president of Williams' gas pipeline business. "Additionally, Blue
Bridge customers will enjoy the flexibility provided by Northwest's system."
The final design and cost of the project will be determined once binding
commitments are received. Subject to regulatory approvals, service on Blue
Bridge would be available in November 2011.
For additional information, contact Hank Henrie at 801-584-6625, Larry
Larsen at 801-584-6645 or Xan Kotter at 801-584-6496 of Northwest Pipeline.
Shippers who would like Blue Bridge capacity must fill out and return a
binding precedent agreement by 3 p.m. MDT on May 30, 2008. A precedent
agreement can be obtained by contacting either Hank Henrie, Larry Larsen or
Xan Kotter. More detailed information, including the open season term sheet,
can be found at:
http://www.northwest.williams.com/NWP_Portal/downloads.action.
About Williams
Williams, through its subsidiaries, finds, produces, gathers, processes
and transports natural gas. Williams' operations are concentrated in the
Pacific Northwest, Rocky Mountains, Gulf Coast, and Eastern Seaboard. More
information is available at http://www.williams.com. Go to
http://www.b2i.us/irpass.asp?BzID=630&to=ea&s=0 to join our e-mail list.
About Puget Sound Energy
Washington State's oldest and largest energy utility, with a 6,000-square-
mile service territory stretching across 11 counties, Puget Sound Energy
serves more than 1 million electric customers and 735,000 natural gas
customers primarily in the growing Puget Sound region of western Washington.
PSE, a subsidiary of Puget Energy (NYSE: PSD), meets the energy needs of its
growing customer base through incremental, cost-effective energy conservation,
low-cost procurement of sustainable energy resources, and far-sighted
investment in the energy-delivery infrastructure. PSE employees are dedicated
to providing great customer service to deliver energy that is safe, reliable,
reasonably priced, and environmentally responsible. For more information,
visit PSE.com.
Contact: Michele Swaner
Williams (media relations)
(801) 584-7048
Richard George
Williams (investor relations)
(918) 573-3679
Roger Thompson
Puget Sound Energy (media relations)
1-888-831-7250
FORWARD LOOKING INFORMATION
Portions of this document may constitute "forward-looking statements" as
defined by federal law. Although Williams and Puget Sound Energy believe any
such statements are based on reasonable assumptions, there is no assurance
that actual outcomes will not be materially different. Any such statements are
made in reliance on the "safe harbor" protections provided under the Private
Securities Reform Act of 1995. Additional information about issues that could
lead to material changes in performance is contained in the companies' annual
reports filed with the Securities and Exchange Commission.
SOURCE Williams