HOUSTON, March 29 /PRNewswire-FirstCall/ -- Duke Energy International
(DEI) has closed on two transactions which increased its ownership in the
Aguaytia Integrated Energy Project (Aguaytia) to 64.9 percent.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040414/DUKEENERGYLOGO)
Aguaytia is an integrated energy project located in the Amazon Basin of
Peru. The project's scope includes the production and processing of natural
gas, sale of LPG (liquefied petroleum gas) and natural gas liquids and the
generation, transmission and sale of electricity from a 169-megawatt power
plant. Through separate transactions with affiliates of El Paso Corporation
and PPL Corporation, DEI acquired an aggregate of an additional 27.1 percent
interest in Aguaytia for a combined purchase price of approximately
$31 million. The other partners in the project are Maple Gas and Conduit
Capital Partners.
"Aguaytia is one of the most successful integrated energy projects in
Latin America," said Richard K. McGee, president of DEI. "Through these two
transactions, we have solidified a majority interest in a strong project in a
growing and important market."
Duke Energy International owns and operates power generation facilities,
and engages in the sale and marketing of electric power and natural gas. Its
primary focus is on power generation activities in Latin America. In addition
to Aguaytia, DEI owns a portfolio of hydro and thermal plants located in
northwestern Peru with an installed capacity of 533 megawatts.
Duke Energy (NYSE: DUK) is a diversified energy company with a portfolio
of natural gas and electric businesses, both regulated and unregulated, and an
affiliated real estate company. Duke Energy supplies, delivers and processes
energy for customers in the Americas. Headquartered in Charlotte, N.C., Duke
Energy is a Fortune 500 company traded on the New York Stock Exchange under
the symbol DUK. More information about the company is available on the
Internet at: http://www.duke-energy.com.
This document includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Although Duke Energy believes that its expectations are
based on reasonable assumptions, it can give no assurance that its goals will
be achieved. Important factors that could cause actual results to differ
materially from those in the forward-looking statements herein include
legislative and regulatory developments; general economic conditions,
including any potential effects arising from terrorist attacks, the situation
in Iraq and any consequential hostilities or other hostilities; the level of
creditworthiness of counterparties to Duke Energy's transactions; the timing
and extent of changes in commodity prices for oil, natural gas, coal,
electricity and interest rates; the timing and success of efforts to develop
domestic and international power, pipeline, gathering, processing and other
infrastructure projects; conditions of the capital markets and equity markets
during the periods covered by the forward-looking statements; and other
factors discussed in Duke Energy's 2005 Form 10-K and other filings with the
Securities and Exchange Commission.
CONTACT: Kate Perez
Phone: 713-627-6527
Cell: 713-822-8418
24 Hour: 704/382-8333
SOURCE Duke Energy
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http://www.duke-energy.com
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CONTACT:
Kate Perez of Duke Energy, +1-713-627-6527,
or Cell, +1-713-822-8418, or 24 Hour, +1-704-382-8333
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