PGT Expansion 2003

As you guys know the 2003 PGT expansion plans are supposed to be 230,000/day. The landscape of the shippers list is ever changing... Rumors of PPL pulling out 85,000/day to Malin and Stanfield is unconfirmed ( we are trying to validate)... and potentially Avista pulling out as they have been downgraded... they hold 35,000/day in 2003. Combined this is almost half of the planned expansion.

Although not confirmed the bottom line is as the 03 shippers back out the expansion it becomes compromised and ultimately I believe the 2002 expansion and 2003 expansion start to blend together. As you guys know the 2002 shippers lists of 211,000 / day is made up 2 shippers Calpine 35,000/day and Newport Gen 175,000/day and this expansion has it's own issues.

As we know more about shippers moving around I will pass on... pls do same.

BT