McClatchy - Seeking Alpha.com
September 2, 2011
Sept. 02--El Paso Corp. will cut the ribbon today on its newest pipeline, a 680-mile, 42-inch diameter behemoth built to carry vast quantities of Rockies natural gas from the Opal hub in Wyoming to Malin, on Oregon's border with California.
The $3.5 billion project, which started shipments in late July, opens at a time when demand growth and prices have collapsed from the heady levels when it was conceived. In the short term at least, that's likely to keep gas shipments well below the pipe's capacity of 1.5 billion cubic feet of gas per day, and crimp profits accordingly.
The $3.5 billion project, which started shipments in late July, opens at a time when demand growth and prices have collapsed from the heady levels when it was conceived. In the short term at least, that's likely to keep gas shipments well below the pipe's capacity of 1.5 billion cubic feet of gas per day, and crimp profits accordingly.
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