Roanoke Gas Company (NASDAQ:RGCO) proudly announced today the completion of a quarter century modernization project to improve the safety and reliability of natural gas service throughout the City of Roanoke and surrounding area. Company management teams, field personnel and city officials commemorated the replacement of 200 miles of aging natural gas lines today with the ceremonial installation of the last section of upgraded pipeline that will supply our region and support the City’s growing economy well into the next century.
“Thanks to the hard work and dedication of our staff, as well as the cooperation and support of Roanoke City officials, we have upgraded 200 miles of bare steel and cast iron material gas lines with minimal disruptions,” Roanoke Gas Company President and CEO John D’Orazio said. “Upgrading this infrastructure will result in maintenance cost reductions, enhanced system reliability and increased safety for many years to come.”
Prior to the 1960s, the nation’s natural gas suppliers installed cast iron or bare steel pipelines to deliver natural gas to customers. In Roanoke, some of these underground lines dated back to the late 19th century. Over time it became clear that new technologies were needed to replace the aging lines and upgrade the nation’s natural gas system with modernized polyethylene plastic pipelines. With the completion of Roanoke Gas Company’s modernization project, 100 percent of all bare steel and cast iron pipelines have been replaced with the upgraded lines.
“The City commends Roanoke Gas for its focus on securing the natural gas system and services to tens of thousands of citizens throughout our region,” City of Roanoke Mayor Sherman Lea said. “Availability to natural gas has played a major role in the development of our local economy and we appreciate Roanoke Gas Company’s dedication to modernization projects like this that ensure the City of Roanoke is able to offer the resources that relocating and expanding businesses are searching for.”
The 25-year project was launched in 1991 and was intentionally spaced over a quarter century to address the aging system, while ensuring limited service interruptions to customers. Understanding that in 1991 the outdated lines comprised approximately 25 percent of the total system, Roanoke Gas prioritized its replacement program using a risk-based evaluation that included leak history, population density and other factors.
With the major modernization project completed, Roanoke Gas Company will now focus its system renewal efforts on the replacement of pre-1973 plastic mains with polyethylene pipe.
About RGC Resources, Inc.
RGC Resources, Inc. provides energy and related products and services to customers in Virginia through its operating subsidiaries Roanoke Gas Company and RGC Midstream, LLC.
From time to time, the Company may publish forward-looking statements relating to such matters as anticipated financial performance, business prospects, technological developments, new products, research and development activities and similar matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company’s actual results and experience to differ materially from the anticipated results or other expectations express in the Company’s forward-looking statements. Past performance is not necessarily a predictor of future results.