WPS Resources buys 33% stake in Guardian Pipeline

WPS Resources Corp., Green Bay, Wis., Monday announced it bought 33% interest in the Guardian Pipeline from CMS Energy, Dearborn Corp., Mich., for $26 million.

June 2, 2003

By OGJ editors
HOUSTON, June 2 -- WPS Resources Corp., Green Bay, Wis., Monday announced it bought 33% interest in the Guardian Pipeline from CMS Energy, Dearborn Corp., Mich., for $26 million.

The 142 mile, 36-in. Guardian Pipeline system, which began operating in 2002, stretches from Joliet, Ill., to Ixonia, Wis. Its capacity is 750 MMcfd, and more than 88% of its capacity is under contract through 2012.

The system provides "potential benefits of competition to current and future customers," in Wisconsin, said Joe O'Leary, WPS Resources senior vice-president and chief financial officer.

Wisconsin Energy, Milwaukee, Wis., and Viking Gas Transmission Co., a wholly owned subsidiary of Northern Border Partners LP, Omaha, Neb., each hold 33% interest in Guardian.