UPDATE 1-El Paso Tennessee gas line declares force majeure

(Releads, updates prices to Friday)

NEW YORK, Nov 5 (BestGrowthStock) – El Paso Corp (EP.N: ) unit
Tennessee Gas Pipeline Co late Thursday declared force majeure
effective Nov. 9 on a portion of its natural gas pipeline
system due to a necessary pressure reduction in a valve section
in southwestern New York State.

A company spokesman said there was no customer impact
expected due to the availability of alternate supplies.

During routine pipeline investigations, an anomaly was
discovered in valve section 225-1 to 226-1, a website posting
said. Starting Tuesday, Nov. 9, the company will further
investigate the anomaly which will result in the pressure
reduction in that segment.

The company will then determine if repairs are necessary,
including any pipeline replacement.

Gas traders noted on Friday that city gate prices on the
Algonquin pipeline were trading about 30 cents per million
British thermal unit over Transco Zone 6 prices in New York,
well above a November monthly index premium of about 9 cents.

Late Thursday after word of the upcoming force majeure
event, Algonquin prices were heard as high as 50 cents over
Transco.

The Algonquin pipeline delivers natural gas supplies to New
England.

The more than 14,000-mile (22,530-km) Tennessee Gas
Pipeline system stretches from the Mexican border to Canada,
tapping supply regions in the Gulf of Mexico, Texas, Appalachia
and Canada, serving markets across the Midwest and mid-Atlantic
including major metropolitan cities of Chicago, New York and
Boston.
(Reporting by Eileen Moustakis and Joe Silha; Editing by
Marguerita Choy)

UPDATE 1-El Paso Tennessee gas line declares force majeure