Virginia Natural Gas supports opt out provision in Warner amendmentUrges Congress to develop sound, balanced energy policyJune 14, 2007
Norfolk, Va. – June 14, 2007 – Virginia Natural Gas today announced its support for Senator John Warner’s offshore exploration amendment allowing the Commonwealth of Virginia to opt out of the Outer Continental Shelf (OCS) moratoria on natural gas exploration.
“Even though Virginia Natural Gas supports Senator Warner’s amendment as part of a national energy policy to secure a long-term natural gas supply that will help meet our country’s future energy needs,” said Hank Linginfelter, president of Virginia Natural Gas. “Even though the amendment did not pass, I applaud the leadership and foresight shown by Senators Warner and Webb who understand that diversifying our energy supply is also a national security issue.”
The Warner amendment calls for a survey of natural gas reserves 50-200 miles off the Virginia coast. The amendment also calls for a cost-benefit analysis if economically recoverable reserves are found. The amendment provides for revenue sharing and is consistent with the Virginia Energy Plan legislation, which was passed with overwhelming bipartisan support by the General Assembly and signed by Governor Kaine.
The U.S. Department of Interior Minerals Management Service (MMS) recently announced a plan that would boost natural gas production in the OCS. The MMS conservatively estimates that there is 327 billion cubic feet of gas off the Virginia coast. This is enough natural gas to heat all the homes in Southeast Virginia for 20 years.
“Businesses, consumers and farmers are feeling the pinch of high energy prices while valuable resources sit untouched 50-200 miles off the Atlantic coast in the Outer Continental Shelf (OCS),” continued Linginfelter. “We look forward to congressional approval of a balanced energy plan that recognizes that natural gas is the cleanest carbon based energy and the bridge to development and use of alternative fuels.”
About Virginia Natural Gas Virginia Natural Gas, a wholly owned subsidiary of AGL Resources (NYSE: ATG), provides retail natural gas sales and distribution services to 264,000 customers in southeast Virginia. For more information, visit http://www.virginianaturalgas.com/.
About AGL Resources AGL Resources (NYSE: ATG), an Atlanta-based energy services company, serves more than 2.2 million customers in six states. The company also owns Houston-based Sequent Energy Management, an asset manager serving natural gas wholesale customers throughout the nation. As a 70 percent owner in the SouthStar partnership, AGL Resources markets natural gas to consumers in Georgia under the Georgia Natural Gas brand. The company also owns and operates Jefferson Island Storage & Hub, a high-deliverability natural gas storage facility near the Henry Hub in Louisiana. For more information, visit www.aglresources.com.
Contact: Patrice Harris, AGL Resources, pharris@aglresources.com
Office: 757-616-7533; Cell: 757-705-2447