Florida Gas Transmission increases gas deliveries with stage two completion of Phase V expansion

HOUSTON, April 3, 2002 — Florida Gas Transmission Company (FGT) announced Tuesday that it has placed in service the second stage of its four-stage Phase V Expansion project, adding approximately 64 miles of underground natural gas pipeline, increasing compression by approximately 103,000 horsepower at new or existing compressor stations, and providing 298 million cubic feet per day (MMcf/d) of additional transportation capacity.

Upon completion of the Phase V project, which is expected in mid 2003, FGT will provide a total of 428 MMcf/d of new gas transportation service to its customers. This expansion is supported by long-term firm service agreements for the incremental service, net of turn-back capacity.

“With the completion of the second stage of FGT’s Phase V expansion, environmentally preferred natural gas is now available for a range of new opportunities throughout the State of Florida,” said Bob Hayes, senior vice president of marketing for Florida Gas Transmission. “Working in cooperation with local, state and federal agencies, FGT was able to complete the project on time, delivering natural gas for additional electric generation, local distribution and industrial customers.”

In addition, as previously announced, FGT filed its Phase VI Expansion with the Federal Energy Regulatory Commission (FERC) last November to add approximately 121 MMcf/d of capacity, 33 miles of underground pipeline and 18,600 horsepower of compression at existing compressor station sites. The project, which received a preliminary determination from FERC in February approving the project pending completion of the environmental review, has estimated construction costs of $105 million and is supported by long-term firm agreements.

Construction is expected to begin in the latter part of 2002, with planned phased in-service dates for the expansion of June 1, 2003 and November 1, 2003. Through Phase V and Phase VI, FGT will make available approximately 550 MMcf/d of new capacity to the State of Florida, increasing total capacity to more than 2.2 billion cubic feet/day (Bcf/d) by fall 2003.

Florida Gas Transmission, a wholly owned subsidiary of Citrus Corp., operates an approximately 4,900-mile interstate natural gas transmission system from South Texas to South Florida. Citrus Corp. is owned jointly by Enron Corp. and El Paso Corporation. Information is available on the Internet at www.fgt.enron.com.


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