DOVER, Del., Aug. 5, 2016 /PRNewswire/ -- Chesapeake Utilities
Corporation (NYSE: CPK) ("Chesapeake Utilities") announced today that the Federal Energy
Regulatory Commission ("FERC") has approved plans by Eastern Shore
Natural Gas ("ESNG"), Chesapeake Utilities' interstate natural gas
transmission subsidiary, to construct pipeline and compression
facilities to preserve the reliability and flexibility of its
interstate pipeline system. The project is estimated to cost
approximately $36 million.
"The investment we are making in this project is part of our
ongoing commitment to the reliability of our natural gas
transmission infrastructure, benefiting energy consumers throughout
our service territories," said Michael P.
McMasters, President and Chief Executive Officer of
Chesapeake Utilities Corporation.
The project will include 10.1 miles of pipeline, including 2.5
miles of 16-inch pipeline looping in New
Castle County, Delaware and 7.6 miles of 16-inch pipeline
looping in Kent County, Delaware
and adding 1,775 horsepower of additional compression at ESNG's
existing Bridgeville Compressor Station in Sussex County, Delaware. Completion of
the facilities are anticipated by the end of the first quarter of
2017.
"Since the company's inception in 1955, ESNG has proven that
reliable and safe service go hand-in-hand," said Steve Thompson, President of Eastern Shore
Natural Gas. "Addressing changes in operating conditions, including
the extreme weather conditions we experienced in the polar vortex
during the winter of 2015, will contribute to the continued
reliable and safe service that is at the center of our Company's
mission."
About Chesapeake Utilities Corporation
Chesapeake
Utilities Corporation is a diversified energy company engaged in
natural gas distribution, transmission, gathering and processing,
and marketing; electricity distribution; propane gas distribution
and wholesale marketing; and other businesses. Information about
Chesapeake Utilities Corporation's businesses is available at
www.chpk.com or through our IR App.
About Eastern Shore Natural Gas Company
Eastern Shore
Natural Gas Company, a subsidiary of Chesapeake Utilities
Corporation, owns and operates a 442-mile interstate pipeline that
transports natural gas from various points in Pennsylvania to customers in Delaware, Maryland and Pennsylvania. For more information, visit
www.esng.com.
Please note that Chesapeake Utilities Corporation is not
affiliated with Chesapeake Energy, an oil and natural gas
exploration company headquartered in Oklahoma City, Oklahoma.
Cautionary Note Regarding Forward-Looking Statements:
Statements in this release that are not historical are
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Words such as "expect," "likely," "outlook," "forecast," "would,"
"could," "should," "can," "will," "project," "intend," "plan,"
"goal," "target," "continue," "sustain," "believe," "seek,"
"estimate," "anticipate," "may," "possible," "assume,"
variations of such words and similar expressions are
intended to identify such forward-looking statements. These
forward-looking statements are not guarantees of future performance
and are subject to risks, uncertainties and assumptions that could
cause actual results to vary materially from those indicated,
including the factors described in Item 1A (Risk Factors) of our
most recent Annual Report on Form 10-K and Quarterly Report on Form
10-Q, each of which is incorporated herein by reference, and in
other documents that we file or furnish with the Securities and
Exchange Commission. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those indicated
or anticipated by such forward-looking statements. Accordingly, you
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date they are made. Except
to the extent required by law, the Company does not undertake, and
expressly disclaims, any duty or obligation to update publicly any
forward-looking statement after the date of this release, whether
as a result of new information, future events, changes in
assumptions or otherwise.
For more information,
contact:
Jeffrey Tietbohl
Vice President
Eastern Shore Natural Gas
302.734.6742
jtietbohl@chpk.com
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SOURCE Chesapeake Utilities Corporation