 |
NORTHERN BORDER PARTNERS L.P. ANNOUNCES
RETIREMENT OF LARRY DEROIN, APPOINTMENT OF
WILLIAM R. CORDES
FOR IMMEDIATE RELEASE: Monday, July 17, 2000
OMAHA -- Northern Border Partners, L.P. (NYSE: NBP) and Northern Border Pipeline Company announced today that Larry DeRoin, chairman of the Partnership Policy Committee and chief executive officer of Northern Border Partners, L.P. intends to retire effective Sept. 30, 2000.
DeRoin, who also is president of Northern Plains Natural Gas Company, a subsidiary of Enron Corp., which is operator of the pipeline, will be replaced by William R. Cordes. Cordes, a 30-year pipeline industry veteran, currently is president of Enron’s Northern Natural Gas and Transwestern Pipeline companies.
“Under Larry’s 15-year stewardship as chairman of its Management Committee, Northern Border Pipeline’s system capacity has been expanded nearly 96 percent, and the pipeline has been extended 390 miles from its original terminus in northern Iowa, into the Chicago area,” said Stan Horton, chairman and chief executive officer of Enron’s Gas Pipeline Group and a company representative on the Partnership Policy Committee. Northern Border will continue to grow as it completes its planned project to extend its system to serve utilities in northern Indiana.
“Northern Border’s growth and corresponding success are in large measure a tribute to Larry’s leadership”, Horton said. “While we accept his decision to retire with a sense of sadness, the members of the Partnership Policy Committee and employees of NPNG recognize and very much appreciate everything that Larry has accomplished. Furthermore, we are pleased that he has agreed to stay on in a consulting capacity to assist Bill Cordes and the NPNG management team during the transition.”
Northern Border Partners, L.P. owns a 70-percent interest in Northern Border Pipeline Company, which owns and operates a 1,214-mile interstate pipeline system that transports approximately 23 percent of all Canadian natural gas imports into the United States. In addition, the Partnership owns the Black Mesa Pipeline, a 273-mile, coal-water slurry pipeline from Kayenta, Ariz., to the Mohave Power Station in Laughlin, Nev., and an equity investment in Bighorn Gas Gathering, L.L.C., a gathering system located in the Power River Basin in Campbell and Sheridan Counties, Wyo.
###
Click here to download this press release in Microsoft Word format.
For additional information please contact:
Ellen Konsdorf
(402) 398-7840
|
