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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Kerm Yerman who wrote (843)	11/6/1996 1:58:00 PM
From: Kerm Yerman	of 24925

CANADIAN OILPATCH / PIPELINE NEWS Pipeline needs commitments: Promoter The Canadian Press CALGARY - The early promise of success for a proposed natural gas pipeline to Chicago may end up killing the project if some producers think it's a done deal, say its promoters. Some potential shippers are asking that Friday's midnight deadline for booking space on the $3.6-billion Alliance Pipeline be extended. Some are looking for escape clauses in their requests for gas pipeline capacity, Jack Crawford, vice-president of regulatory affairs at Alliance, said Tuesday. But there will be no extension. Alliance needs solid commitments for 1.25 billion cubic feet a day of gas shipping capacity by Friday. "It's time to fish or cut bait," said Crawford, who fears that some potential shippers may think they can stand on the sidelines and ride on the capacity bookings of others. Alliance promoters also fear their own public expressions of strong support in the past few weeks may give the wrong impression that Alliance has made it. "We need 1.25 billion. I think we're going to be there, but I don't have signed paper for that amount," Crawford said. "Meat's not meat until it's in the pan." If it doesn't reach its goal Friday, the project will be thrown into limbo and unable to meet the regulatory filing deadlines or on-stream date of 1999. A group of 18 oil and gas companies conceived and generated the Alliance project, which will also move natural gas liquids to the U.S. Midwest. It challenges the traditional tolls and ground of the established pipelines and is intended to end a shortfall of export capacity that has caused spot prices inside Alberta to lag well back of the lucrative U.S. market.

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