Enable Midstream Announces FERC Approval of the Gulf Run Pipeline Project
03 June 2021 - 5:17AM
Business Wire
Enable Midstream Partners, LP (NYSE: ENBL) announced today that
the Federal Energy Regulatory Commission (“FERC”) has granted
approval to construct and operate the Gulf Run Pipeline project
under section 7(c) of the Natural Gas Act. The project is designed
to transport natural gas from some of the most prolific natural gas
producing regions in the U.S., including the Haynesville,
Marcellus, Utica and Barnett shales and the Mid-Continent region,
to the U.S. Gulf Coast and is backed by a 20-year commitment for
1.1 billion cubic feet per day (Bcf/d) from cornerstone shipper
Golden Pass LNG. The planned 42-inch pipeline provides for
approximately 1.7 Bcf/d of capacity, allowing for upside potential
beyond Golden Pass LNG’s commitment.
“We appreciate FERC’s thoughtful review of the project and all
of the hard work from our best-in-class project team to reach this
important milestone,” said Rod Sailor, president and CEO. “Gulf Run
makes significant use of existing assets, reducing the project’s
cost and environmental impact. With FERC approval and the demand
for LNG increasing globally, the project is well-positioned to add
new customer commitments.”
The cost for the project is currently estimated at approximately
$540 million, and pipe for the project was recently acquired at
favorable pricing relative to market. The contractor bidding
process is underway, and the project is anticipated to be placed
into service in late 2022.
ABOUT ENABLE MIDSTREAM
PARTNERS
Enable owns, operates and develops strategically located natural
gas and crude oil infrastructure assets. Enable’s assets include
approximately 14,000 miles of natural gas, crude oil, condensate
and produced water gathering pipelines, approximately 2.6 Bcf/d of
natural gas processing capacity, approximately 7,800 miles of
interstate pipelines (including Southeast Supply Header, LLC of
which Enable owns 50%), approximately 2,200 miles of intrastate
pipelines and seven natural gas storage facilities comprising 84.5
billion cubic feet of storage capacity. For more information, visit
https://enablemidstream.com.
FORWARD-LOOKING
STATEMENTS
Some of the information in this press release may contain
forward-looking statements. Forward-looking statements give our
current expectations and contain projections of results of
operations or of financial condition, or forecasts of future
events. Words such as “could,” “will,” “should,” “may,” “assume,”
“forecast,” “position,” “predict,” “strategy,” “expect,” “intend,”
“plan,” “estimate,” “anticipate,” “believe,” “project,” “budget,”
“potential,” or “continue,” and similar expressions are used to
identify forward-looking statements. Without limiting the
generality of the foregoing, forward-looking statements contained
in this press release include statements pertaining to our
expectations of plans, strategies, objectives, growth and
anticipated financial and operational performance, as updated by
this press release. Forward-looking statements can be affected by
assumptions used or by known or unknown risks or uncertainties.
Consequently, no forward-looking statements can be guaranteed.
A forward-looking statement may include a statement of the
assumptions or bases underlying the forward-looking statement. We
believe that we have chosen these assumptions or bases in good
faith and that they are reasonable. However, when considering these
forward-looking statements, you should keep in mind the risk
factors and other cautionary statements in this press release and
our Annual Report on Form 10-K for the year ended Dec. 31, 2020
(Annual Report). Those risk factors and other factors noted
throughout this press release and in our Annual Report could cause
our actual results to differ materially from those disclosed in any
forward-looking statement. You are cautioned not to place undue
reliance on any forward-looking statements.
Any forward-looking statements speak only as of the date on
which such statement is made, and we undertake no obligation to
correct or update any forward-looking statement, whether as a
result of new information or otherwise, except as required by
applicable law.
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Media Lee Ann DeArman (405) 557-6882
Investor Matt Beasley (405) 558-4600
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