HOUSTON, July 15, 2002 — El Paso Corp. announced that it received a subpoena Friday from the U.S. Attorney, asking for documents regarding “round-trip” or “wash” trades of natural gas. El Paso will cooperate fully with the request.
El Paso has stated publicly in response to two requests issued by the Federal Energy Regulatory Commission that it has not engaged in so-called “round-trip” or “wash” trades for the purpose of artificially inflating volumes or revenues or for the purpose of manipulating prices.
El Paso Corporation is a North American provider of natural gas services. The company has core businesses in natural gas production, gathering and processing, and transmission, as well as liquefied natural gas transport and receiving, petroleum logistics, power generation, and merchant energy services.
El Paso Corporation, rich in assets and fully integrated across the natural gas value chain, is committed to developing new supplies and technologies to deliver energy to communities around the world. For more information, visit www.elpaso.com .