Newspaper article THE JOURNAL RECORD

Pipeline Agreement Reached

Newspaper article THE JOURNAL RECORD

Pipeline Agreement Reached

Article excerpt

Pipeline Agreement Reached HOUSTON - TransCanada Pipelines Ltd. has agreed to provide natural gas transportation to the Empire State Pipline project, the Coastal Corp. and Union Enterprises Ltd. have announced.

As part of the agreement, TransCanada proposes to extend its existing pipeline system in Ontario, Canada, to connect directly with the Empire pipeline near Grand Island, N.Y. The TransCanada interconnection will fulfill the need for transportation capacity upstream of the Empire State Pipeline. Both projects are scheduled for completion by Nov. 1, 1990.

With the link between TransCanada's system and the Empire pipeline in place, shippers on the Empire State Pipeline will be able to directly access natural gas supplies in Canada and domestic supples in the lower 48 states. According to the agreement, TransCanada will apply to the National Energy Board in Canada by June 30, 1989, for authorization to build the 12-mile interconnection. Concurrent with that filing, Coastal and Union Enterprises, sponsors of the Empire pipeline, will withdraw their application to build the Niagara Pipeline, which was filed with the Canadian National Energy Board earlier this year and would have linked the facilities of United Enterprises' subsidiary, Union Gas Limited, with the Empire pipeline.

Forbes Lists Highest Paid Executives NEW YORK - Chief executives in the beverage and tobacco industries were, as a group, the highest-paid CEOs at the nation's biggest companies, according to a list compiled by Forbes magazine.

The survey released Monday ranks by 1988 compensation the chief executives of the nation's 800 largest public companies.

Chief executive officers at beverage and tobacco companies earned a median $1.51 million, followed by chief executives in communications and media and CEOs of financial service companies, who dropped to third place after three years in first, Forbes says in its forthcoming May 29 issue. …

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