El Paso Energy changed the name of Leviathan Gas PipelinePartners, L.P. yesterday to El Paso Energy Partners, L.P.,effective Dec. 1, and appointed Robert G. Phillips, who iscurrently president of El Paso Field Services and a director ofLeviathan, the company’s new CEO. Leviathan’s board accepted theresignation of CEO Grant E. Sims.

El Paso Energy Corp. CEO William A. Wise said Sims “played aninstrumental role in transforming Leviathan into what we believe isthe premier provider of midstream services in the deepwater Gulf ofMexico. Bob Phillips has overseen the growth of El Paso EnergyCorp.’s midstream business activities since 1996. He will bring thesame dedication to his additional responsibilities as chiefexecutive officer of El Paso Energy Partners.”

Phillips immediately announced a new growth strategy, which hesaid will “incorporate the acquisition and development of energyinfrastructure assets in areas that previously had not been in thecompany’s core geographic areas of operation. Leveraging El Paso’ssignificant assets and resources will be critical to thisstrategy,” said Phillips. “We remain committed to the deep-watertrend as higher prices are accelerating development plans for newdiscoveries. However, we anticipate this broader growth strategywill result in greater returns to our unitholders.”

El Paso Energy Corp. bought the master limited partnership fromDeepTech International last summer and is the largest owner ofpartnership units with a 35% share. “[T]he name change reiteratesthat the interests of unitholders and El Paso Energy are fullyaligned,” said Wise.

Leviathan operates or has interests in eight natural gaspipeline systems located offshore Louisiana and Texas whichcurrently gather 3 Bcf/d of gas. In addition, Leviathan owns a 36%interest in the Poseidon Oil Pipeline in the Gulf.

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