Columbus, OH August 3, 2001 The true utility of a tool can be determined by the amount of uses that can be derived for it. Duct tape is probably the most famous of the multi-use tools, since it functions as anything from pulling those little invisible nettles out of skin to securing actual ducts, but any mechanic knows that a hammer, for instance, has uses far beyond sinking nails in sheetrock. In a pinch, it makes a handily impressive throwing object, if you're prone to losing your temper during mechanical projects. Not that I'd know anything about that.
The Internet is also a great tool, and its many uses bear testimony to that. Granted, a lot of imagined uses have bid us farewell, sometimes taking tons of venture capital with them as they disappeared into the financial sunset. There are still many uses percolating along the industrial highway, however, and many more are being developed. One such use is the auctioning of pipeline capacity. Not using that pipeline of yours to maximum pumpage? Let somebody else use it.
KNG Energy, a Findlay, Ohio-based natural gas pipeline company, has signed an agreement with EnergyGateway to auction portions of its pipeline capacity. "EnergyGateway will help us gain exposure to a much broader universe of wholesale and retail market participants who are seeking the diversification in their supply portfolios which Crossroads and KNG offer through direct connections to the Chicago supply hub," stated Sandy Roller, manager of operations for KNG. "EnergyGateway adds further value by providing us with strategic market knowledge from highly experienced energy transaction professionals. Because our pipeline has been in operation for less than a year, we need to both gather and convey information about the strategic value we might offer to shippers. The EnergyGateway solution may be an efficient and economical way to reach our target customers."
Companies wishing to place offers on KNG pipeline capacity should review the postings for capacity found on the EnergyGateway Natural Gas Marketplace.
"KNG's business is operating a natural gas pipeline system, while EnergyGateway's business includes providing market liquidity and depth in energy marketing experience. Our agreement is an example of two forward thinking companies leveraging the combined strengths and interest to our mutual gain," said Mark Jergens, CEO of EnergyGateway.