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CST: 16/07/2019 11:39:31   

Matrix Service Awarded EPC of LNG Peak Shaving Facility for Piedmont Natural Gas

74 Days ago

  • LNG facility will be constructed in Robeson County, North Carolina
  • It will help provide reliable, low-cost service to customers on coldest days of the year

TULSA, Okla., May 03, 2019 (GLOBE NEWSWIRE) -- Piedmont Natural Gas announced today it has selected Matrix Service Inc., a subsidiary of Matrix Service Company (Nasdaq: MTRX), to build its liquefied natural gas (LNG) facility in Robeson County, North Carolina.

The facility will help Piedmont Natural Gas continue providing customers with a reliable supply of natural gas during peak usage days, when extremely low temperatures create a higher-than-normal demand for natural gas.

The 1 billion-cubic-foot (Bcf) storage facility will cover approximately 60 acres of a 685- acre piece of Piedmont-owned property. Construction is expected to begin in May of 2019 with an estimated completion date in the summer of 2021.

“Our highest priority is the safety of our natural gas infrastructure, our communities and our employees, said Frank Yoho, president of natural gas operations at Duke Energy, parent company of Piedmont Natural Gas. “The contractor we selected had to share our emphasis on safety, offer proven excellence in this specialized construction, and commit to minimize disruption to our neighbors in Robeson County.”

“As an industry leader in low-temperature and cryogenic tanks and terminals, we are very pleased to have been awarded this important project,” said Matrix Service Company’s President and Chief Executive Officer, John R. Hewitt. “We look forward to delivering this project safely, on time and on budget.”

The LNG facility is expected to create up to 150 jobs during construction and 10 to 12 permanent jobs to manage operations. The project will provide more than $800,000 annually in tax revenue to Robeson County.

For more information about the facility, see the Piedmont Natural Gas original announcement and project overview.

Matrix Service Company
Founded in 1984, Matrix Service Company (Nasdaq: MTRX) is parent to a family of companies that include Matrix Service Inc., Matrix NAC, Matrix PDM Engineering and Matrix Applied Technologies. Our subsidiaries design, build and maintain infrastructure critical to North America's energy and industrial markets. Matrix Service Company is headquartered in Tulsa, Oklahoma with subsidiary offices located throughout the United States and Canada, as well as Sydney, Australia and Seoul, South Korea.

With a culture driven by its core values of safety, integrity, stewardship, positive relationships, community involvement and delivering the best, Matrix has twice been named to Forbes Top 100 Most Trustworthy Companies in America and is consistently recognized as a Great Place to Work®.

For more information about Matrix, please contact:

Matrix Service Company
Kevin S. Cavanah
Vice President and CFO
T: 918-838-8822
Email: ir@matrixservicecompany.com

Kellie Smythe
Senior Director, Investor Relations
T: 918-359-8267
Email: ksmythe@matrixservicecompany.com

Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers in North Carolina, South Carolina and Tennessee. The company also supplies natural gas to power plants. Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and has been named by Cogent Reports as one of the most trusted utility brands in the U.S.

Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.

Duke Energy is transforming its customers’ experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.

Duke Energy was named to Fortune’s 2019 “World’s Most Admired Companies” list, and Forbes’ 2019 “America’s Best Employers” list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy’s illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

Media contact: Tammie McGee
Office: 704.731.4236 I 24-hour: 877.348.3612

This release contains forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are generally accompanied by words such as “anticipate,” “continues,” “expect,” “forecast,” “outlook,” “believe,” “estimate,” “should” and “will” and words of similar effect that convey future meaning, concerning the Company’s operations, economic performance and management’s best judgment as to what may occur in the future. Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. The actual results for the current and future periods and other corporate developments will depend upon a number of economic, competitive and other influences, including those factors discussed in the “Risk Factors” and “Forward Looking Statements” sections and elsewhere in the Company’s reports and filings made from time to time with the Securities and Exchange Commission. Many of these risks and uncertainties are beyond the control of the Company, and any one of which, or a combination of which, could materially and adversely affect the results of the Company's operations and its financial condition. We undertake no obligation to update information contained in this release.

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