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ENRON ANNOUNCES $28M EXPANSION OF BAMMEL STORAGE FIELD AND HOUSTON PIPE LINE
FOR IMMEDIATE RELEASE: Wednesday, March 11, 1998
HOUSTON - Enron Corp. announced today its plans to enhance the performance and flexibility of its Bammel Natural Gas Storage Field (Bammel) and to upgrade Houston Pipe Line Company's (HPL) capacity for moving natural gas in and out of the storage field to serve the Texas Gulf Coast industrial market and Houston-based natural gas utilities. HPL and Bammel are part of Enron's extensive network of physical assets serving wholesale energy customers in the U.S.
HPL will drill four new storage wells and construct a 12-mile, 30-inch diameter pipeline adjacent to an existing HPL pipeline. Expected to be completed by year end, the combined projects will increase withdrawal capacity nearly 20% to 1.4 billion cubic feet (Bcf) of natural gas per day.
"At Enron, we are committed to strengthening our asset base," said Mike McConnell, president of HPL. "As electricity and natural gas markets converge, there is increased demand for more dynamic products and services. This project gives us enhanced flexibility to deliver energy solutions to our customers. In the future, we will be considering other creative ways to serve the company's expanding producer and consumer markets."
Centrally located on the HPL system, Bammel is one of the largest storage fields in North America with a capacity of 117 Bcf. HPL is comprised of 5,269 miles of natural gas pipeline reaching major residential and commercial markets along the Texas Gulf Coast.
Enron is the world's leading integrated natural gas and electricity company. The company owns approximately $23 billion in energy related assets and delivers physical commodities and risk management and financial services to provide energy solutions to customers around the world. Enron's internet address is www.enron.com, and the stock is traded under the ticker symbol, "ENE."
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For additional information please contact:
Shelly Mansfield
713-853-4589
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