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Northern Border Project Receives Final Environmental Impact Statement
FOR IMMEDIATE RELEASE: Monday, June 9, 1997
HOUSTON – Northern Border Pipeline Company's Chicago Project received its Final Environmental Impact Statement (FEIS) from the Federal Energy Regulatory Commission (FERC) staff on Friday, June 6.
In the FEIS, the FERC staff concluded that approval of the proposed project, with the recommended mitigating measures, would have limited environmental impact and would be an environmentally acceptable action. All mitigative measures required by the FEIS are being incorporated into Northern Border Pipeline's construction plan for the Chicago Project.
"We believe that the favorable FEIS clears the way for the FERC to issue a final certificate affirming the economic and regulatory findings in the preliminary determination issued in August 1996," said Larry DeRoin, Chairman of the Management Committee of Northern Border Pipeline. "We are confident that with this finding, our solid market demonstration, and our strong base of customer support that the FERC will promptly issue final approval of the Chicago Project. Separately, debt financing for the Chicago Project has been arranged and is expected to close next week," DeRoin concluded.
The Chicago Project would increase the pipeline's natural gas receipt capabilities to 2.4 billion cubic feet per day (Bcf/d) from the existing 1.7 Bcf/d and allow for additional deliveries of 1.2 Bcf/d into the Chicago area. The Chicago Project is estimated to cost approximately $837 million and is targeted for a November 1, 1998 in-service date.
Northern Border Pipeline Company is a general partnership which owns and operates a 969-mile interstate pipeline that transports about 20 percent of all Canadian gas imported into the United States. In 1996, the Northern Border Pipeline system delivered an average of 1,764 million cubic feet of natural gas per day. Northern Border Partners, L.P. owns a 70 percent general partner interest in Northern Border Pipeline. The remaining 30 percent interest in Northern Border Pipeline is owned by subsidiaries of TransCanada PipeLines Limited. Northern Border Partners, L.P. is listed on the New York Stock Exchange under the symbol "NBP".
For additional information please contact:
Elaine Thomas
(713)853-6814
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