Gulfstream Signs Landfall Agreement
After both projects received preliminary approval from FERC over a month ago,
the ongoing race to Florida accross the Gulf of Mexico between Coastal Corp.'s
Gulfstream Natural Gas System and Williams and Duke Energy's Buccaneer pipeline
is heating up again (see NGI, May 1). Gulfstream
yesterday announced it signed a multi-million dollar deal with the Manatee
County Port Authority for a permanent right-of-way easement to cross through
Gulfstream initially will pay $1.48 million for the landfall to
Florida which will include the use of port services and acreage. On
choosing Port Manatee for a landfall, the company said that the
project will have minimal impact to Florida's coastline and
environment. According to the agreement, Gulfstream also plans on
leasing upwards of 190 acres of land in Port Manatee to use as a
staging construction site. The leased acreage will be used as a
logistics base for the project.
The proposed $1.7 billion Gulfstream project would deliver 1.1
Bcf/d of gas to customers in central and eastern Florida through
744 miles of pipe extending from Mobile Bay offshore Alabama.
Pipeline officials say they have firm transportation agreements
with 10 large, non-affiliated Florida utilities and power
"I think this is a major step forward," said Coastal's Joe
Martucci. "Gulfstream has a superior route and strong market
commitments. The key thing is, everything remains on schedule for
our June 2002 in-service date," he added.
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