Boardwalk Restructures, Extends Firm Transportation Service Agreements with Southwestern Energy
Boardwalk Pipeline Partners, LP today announced that its subsidiary, Texas Gas Transmission Company, LLC, has filed with the Federal Energy Regulatory Commission (FERC) seeking approval to restructure some of its existing firm transportation agreements and enter into new firm transportation agreements with subsidiaries of Southwestern Energy on Texas Gas’ Fayetteville and Greenville Laterals.
“These agreements are value enhancing for Boardwalk,” said Stan Horton, Boardwalk Pipeline Partners’ president and CEO. “The restructuring of Southwestern’s transportation agreements helps Texas Gas achieve greater long-term revenue generation. It also provides future revenue upside through Southwestern’s volume commitment of flowing gas from the Fayetteville and Moorefield plays. Our relationship with Southwestern and their long-term commitment to Texas Gas will provide an important source of supplies to support the growth of our end-use markets.”
The agreement lowers the contract quantities for Southwestern’s existing firm transportation contracts on the Fayetteville Lateral through 2020 and adds new long-term firm transportation agreements on the Fayetteville and Greenville Laterals through 2030. Boardwalk Pipeline Partners will also have rights through 2030 to transport natural gas produced from the committed volumes that Southwestern Energy produces in the Fayetteville and Moorefield plays.
For more information about the proposed changes to underlying firm transportation agreements, visit Texas Gas FERC Filing of Southwestern Restructuring.
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