Company: L
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000060086-25-000036
Chunk: 35

Company: LOEWS CORP
Filing Date: 2025-02-11
Form: 10-K
Item: Item 1
Chunk 35
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0 MMBbls of ethane per year. Bayou Ethane provides ethane supply and transportation services for industrial customers in Louisiana and Texas. 

The following table provides information for Boardwalk Pipelines’ natural gas liquids assets owned and operated as of December 31, 2024:

AssetsMiles ofPipelineAnnualThroughput(MMBbls)WorkingGas StorageCapacity(Bcf)LiquidsStorageCapacity(MMBbls)Louisiana Midstream31060.27.631.2Boardwalk Petrochemical18036.3Bayou Ethane38040.1

In 2024, Boardwalk Pipelines placed into service approximately $245 million of growth projects which represents approximately 0.4 Bcf per day of firm natural gas transportation capacity, additional capacity on its ethylene pipeline systems and increased storage capacity and reliability. Boardwalk Pipelines expects to spend a total of approximately $1.6 billion on its ongoing and announced growth projects, with expected in-service dates for these projects ranging from 2025-2029. These projects are expected to add over 2.0 Bcf per day of firm natural gas transportation capacity. These projects are expected to serve increased natural gas demand from electric power generation plants and industrial customers. Boardwalk Pipelines’ growth projects are secured by long-term firm contracts, though some are supported by executed precedent transportation agreements for projects that are subject to regulatory approvals.

Customers: Boardwalk Pipelines serves a broad mix of customers, including end-use customers, such as electric power generators, local distribution companies, industrial users and exporters of liquefied natural gas (“LNG”). Boardwalk Pipelines also contracts with other customers, including producers and marketers of natural gas and interstate and intrastate pipelines, who, in turn, provide transportation and storage services for end-users. These customers are located throughout the Gulf Coast, Midwest and Northeast regions of the U.S. Boardwalk Pipelines’ natural gas delivery markets have diversified over time, with increased deliveries to end-use customers, whereas, historically its natural gas delivery markets were primarily to other pipelines who then delivered to end-use customers.

Governmental Regulation: The FERC regulates Boardwalk Pipelines’ interstate natural gas transmission operating subsidiaries under the Natural Gas Act of 1938 (“NGA”) and the Natural Gas Policy Act of 1978 (“NGPA”). The FERC regulates, among other things, the rates and charges for the transportation and storage of natural gas in interstate commerce and the construction, extension, enlargement or abandonment of facilities under its jurisdiction. Where