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HOUSTON, Texas, June 14, 2002 -- Northern Natural Gas Co. (NNG), the pipeline subsidiary of Dynegy Inc., and MidAmerican Energy Co. (MEC) recently announced they have entered into a long-term firm gas transportation supply agreement.
The contract calls for NNG to provide 96,000 decatherms of firm gas transportation service to MEC's Greater Des Moines Energy Center located in Pleasant Hill, Iowa.
MEC plans to build a new 540-megawatt natural gas-fired generating plant at the Energy Center. Development of the $368 million plant is on schedule, with commercial operation expected in the spring 2003.
"This agreement supports our strategy of adding new pipeline capacity to the NNG system and enhances the development of natural gas-fired generation to help meet the growing energy needs of the state of Iowa," said Dave Neubauer, president of NNG.
NNG provides transportation and storage services to its customers, as well as cross-haul and grid transportation between other interstate and intrastate pipelines in the Permian, Anadarko, Hugoton and Midwest areas. NNG's 16,600 miles of pipeline extend from the Permian Basin in Texas to the Upper Midwest, providing extensive access to major utilities and industrial customers. NNG's storage capacity is 59 billion cubic feet (Bcf) and its market area capacity is approximately 4.3 billion cubic feet per day (Bcf/d).
Dynegy Inc. produces and delivers energy, including natural gas, power, natural gas liquids and coal, through its owned and contractually controlled network of physical assets. The company serves customers by aggregating production and supply and delivering value-added solutions to meet their energy needs. The company's web site is www.dynegy.com.
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