HOUSTON, Feb. 23, 2015 /PRNewswire/ -- CenterPoint Energy, Inc.'s (NYSE: CNP) electric utility announced that it will build new and expand existing electric transmission infrastructure to provide the 656 MWs needed to serve the liquefied natural gas (LNG) export project currently under construction on Quintana Island in Brazoria County. Freeport LNG Development, L.P. is building the facilities to liquefy natural gas prior to export from the terminal.
The approximately $80 million transmission project includes a new 345/138kV substation and multiple 138kV transmission system upgrades.
"The greater Houston area had the country's third-fastest job growth rate in 2014 and an economy that outpaced the rest of the nation," said Kenny Mercado, senior vice president of CenterPoint Energy's Electric Operations. "We are excited to provide service to a project that will not only continue to drive substantial economic growth in Texas but also across the United States and around the world."
In 2014, CenterPoint Energy submitted a proposal to the Electric Reliability Council of Texas (ERCOT) to meet the increased needs of the project. Earlier this month, the ERCOT board of directors endorsed the proposed transmission project which is expected to be completed in mid-2017. Operations at the Freeport LNG facility are expected to commence in 2018.
The significant new load at Freeport LNG's project also underscores the need for CenterPoint Energy's planned Houston Import Project. ERCOT identified the proposed line as critical to provide an additional power supply into the Houston area by summer 2018.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as future construction and expansion of electric transmission facilities, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release.
CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and energy services operations. The company serves more than 5 million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. The company also owns a 55.4 percent limited partner interest in Enable Midstream Partners, a publicly traded master limited partnership it jointly controls with OGE Energy Corp., which owns, operates and develops natural gas and crude oil infrastructure assets. With more than 8,500 employees, CenterPoint Energy and its predecessor companies have been in business for more than 140 years. For more information, visit the website at www.CenterPointEnergy.com.
For more information contact
Media:
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Phone 713.207.7702
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Phone 713.207.6500
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SOURCE CenterPoint Energy, Inc.
