HOUSTON, Sept. 21, 2015 /PRNewswire/ -- Columbia Pipeline Group, Inc. ("CPG") and Columbia Pipeline Partners LP (together, "Columbia") announced today that the Federal Energy Regulatory Commission ("FERC") has approved construction of the Cameron Access Project in Southwest Louisiana by its subsidiary Columbia Gulf Transmission, LLC ("Columbia Gulf").
"We are pleased that the FERC has approved our application to construct the Cameron Access Project," said CPG President Glen Kettering. "This is an important natural gas infrastructure project that further connects abundant, but constrained, Appalachian supplies to higher value markets."
The Cameron Access Project includes improvements to Columbia Gulf's existing pipeline system, as well as ancillary facilities, a new compressor station near Lake Arthur, Louisiana, and the installation of an approximately 26 mile greenfield pipeline lateral in Cameron Parish that provides direct access to the Cameron LNG export facility. The project involves an investment of approximately $310 million and includes binding precedent agreements for more than 90% of the 800 million cubic feet of new firm transportation capacity.
"The Cameron Access Project is an integral part of the $10-plus billion project backlog that CPG will be executing on over the next several years and, we anticipate, will triple the size of the company by 2020," Kettering said. "It's a prime example of our core infrastructure expansion projects that continue to offer innovative transportation solutions to both producers as well as evolving end-use markets."
Columbia has been working closely with residents of Louisiana -- as well as federal, state and local agencies -- for more than 18 months to outline the pipeline project and share information about safety procedures and construction plans. The project is anticipated to begin construction activity in the spring of 2016 and be placed in service during the first quarter of 2018.
Forward Looking Statements
This press release includes "forward-looking statements" as defined by the Securities and Exchange Commission ("SEC"). These statements include statements regarding the intent, belief or current expectations of Columbia and its management. Although Columbia believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals will be achieved. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations, including required approvals by regulatory agencies, the possibility that the anticipated benefits from such activities, events, developments or transactions cannot be fully realized, the possibility that costs or difficulties related thereto will be greater than expected, the impact of competition, and other risk factors included in Columbia's (or its affiliates') reports filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Columbia expressly disclaims any duty to update any of the forward-looking statements contained in this release.
About Columbia Pipeline Group, Inc.:
Columbia Pipeline Group, Inc. operates approximately 15,000 miles of strategically located interstate pipeline, gathering and processing assets extending from New York to the Gulf of Mexico, including an extensive footprint in the Marcellus and Utica Shale production areas. Columbia Pipeline Group also operates one of the nation's largest underground natural gas storage systems. Columbia Pipeline Group is listed on the NYSE under the ticker symbol CPGX. Additional information can be found at www.cpg.com.
About Columbia Pipeline Partners LP
Columbia Pipeline Partners LP, based in Houston, Texas, is a fee-based, growth-oriented master limited partnership formed to own, operate and develop a growing portfolio of natural gas pipelines, storage and related midstream assets.
Columbia Pipeline Partners' business and operations are conducted through CPG OpCo LP and its subsidiaries, which own and operate substantially all of the natural gas transmission, storage and midstream assets of Columbia Pipeline Group, Inc. Columbia Pipeline Group operates approximately 15,000 miles of strategically located interstate pipelines extending from New York to the Gulf of Mexico, one of the nation's largest underground natural gas storage systems, and a growing portfolio of related gathering and processing assets. The majority of its assets overlay the Marcellus and Utica Shale production areas. Additional information can be found at www.columbiapipelinepartners.com or www.cpg.com.
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SOURCE Columbia Pipeline Group, Inc.