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2003 News Releases
Date: May 30, 2003
Gulfstream Natural Gas System Reaches Firm Transportation
Agreement With Florida Power & Light Company
TAMPA, Fla. - Gulfstream Natural Gas System, L.L.C. announced today
the execution of a 23-year agreement with Florida Power & Light
Company in which Gulfstream will provide up to 350 million cubic
feet per day of firm natural gas transportation service to FPL for
its Martin and Manatee power plant expansions.
Gulfstream will extend the Florida mainline it placed in service
last year by approximately 110 miles to FPL's Martin plant. The
company anticipates construction of the previously certificated
30-inch diameter mainline extension from Polk County to Martin County
and related lateral facilities to begin next year with a targeted
completion in late 2004.
FPL plans to add one natural gas-fired, combined-cycle generating
unit to its existing Manatee plant site in Parrish, Fla., and another
to its existing Martin plant site in Indiantown, Fla. The two units,
totaling 1,900 megawatts, will serve an additional 400,000 customers
beginning in mid-2005.
The Federal Energy Regulatory Commission in February 2001 approved
the construction and operation of the entire 753-mile Gulfstream
pipeline project. The Florida Department of Environmental Protection
issued its environmental permit in March 2001. Gulfstream later
received permission from FERC to phase construction - placing 581
miles in service last May and the remainder in service at a later
date.
"We are very pleased to have reached an agreement to provide
natural gas transportation service to FPL's Martin and Manatee power
plant expansions," said Guy Buckley, Gulfstream senior vice
president and general manager. "We look forward to providing
FPL with reliable, economic transportation services on both the
east and west coasts of Florida for many years to come."
"Our agreement with Gulfstream offers our customers two key
benefits," said Joe Stepenovitch, FPL director of energy marketing
and trading. "One is a very competitively-priced new source
of natural gas transportation, and the other is the improved reliability
resulting from having a second gas pipeline supplier for FPL."
Since the Gulfstream project was initiated in 1999, company representatives
have worked with state and local officials as well as civic and
community groups to share information and answer questions about
the project, conducting public meetings, delivering presentations
and making information available through its web site.
Placed into service in May 2002, Gulfstream Natural Gas System
is currently a 581-mile pipeline system with the capacity to deliver
1.1 billion cubic feet of natural gas each day to serve Florida's
growing energy needs. The pipeline is a joint development between
Williams (NYSE:WMB) and Duke Energy (NYSE:DUK). Additional information
is available on the Internet at www.gulfstreamgas.com or by calling
the company toll-free at 1-888-GAS-4-FLA.
Florida Power & Light Company is the principal subsidiary of
FPL Group, Inc. (NYSE: FPL), nationally known as a high-quality,
efficient and customer-driven organization focused on energy-related
products and services. With annual revenues of more than $8 billion
and a presence in 24 states, FPL Group is widely recognized as one
of the country's premier power companies. Florida Power & Light
Company serves more than 4 million customer accounts in Florida.
FPL Energy, Inc., FPL Group's energy-generating subsidiary, is a
leader in producing electricity from clean and renewable fuels.
Additional information is available on the Internet at www.FPL.com,
www.FPLGroup.com and www.FPLEnergy.com.
# # #
Portions of this document may constitute "forward-looking
statements" as defined by federal law. Although the companies
believe any such statements are based on reasonable assumptions,
there is no assurance that actual outcomes will not be materially
different. Any such statements are made in reliance on the "safe
harbor" protections provided under the Private Securities Reform
Act of 1995.
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