Boardwalk and an Affiliate of Its General Partner Complete Acquisition of Petal and Hattiesburg Storage Companies

Boardwalk Pipeline Partners, LP (NYSE: BWP) announced today that Boardwalk HP Storage Company, LLC, a joint venture between Boardwalk and Boardwalk Pipelines Holding Corp. (BPHC), an affiliate of its general partner, has completed the previously announced acquisition of Petal Gas Storage, L.L.C., Hattiesburg Gas Storage Company and related entities from Enterprise Products Partners L.P. (NYSE: EPD). The joint venture funded the acquisition with proceeds from a $200 million bank loan and equity contributions from BPHC and Boardwalk. BPHC, a wholly-owned subsidiary of Loews Corporation (NYSE: L), owns 80% and contributed approximately $280 million of the joint venture’s equity while Boardwalk owns 20% and contributed approximately $70 million. Boardwalk will operate these assets on behalf of the joint venture.

Petal and Hattiesburg operate seven high deliverability salt dome natural gas storage caverns in Forrest County, Mississippi, having approximately 29 Bcf of total storage capacity, of which approximately 19 Bcf is working gas capacity. Petal and Hattiesburg also own undeveloped land which is suitable for up to six additional storage caverns, one of which is expected to be placed in service in 2013. The acquired businesses also include a leaching plant, freshwater and brine disposal wells, approximately 69,000 horsepower of compression and approximately 105 miles of pipeline which connect their facilities with several major natural gas pipelines, including Boardwalk’s. The storage capacity of the operating caverns is currently fully subscribed under long-term fixed-fee contracts with a weighted-average remaining contract life of approximately seven years.

About Boardwalk Pipeline Partners, LP

Boardwalk Pipeline Partners, LP, is a limited partnership engaged, through its subsidiaries, in the transportation, storage and gathering of natural gas. Including the assets held under the Petal and Hattiesburg joint venture, Boardwalk operates approximately 14,300 miles of pipeline and underground storage fields having aggregate working gas capacity of approximately 186 Bcf. Additional information about the partnership can be found on its website at www.bwpmlp.com.

Forward-Looking Statements

This press release contains forward-looking statements relating to expectations, plans or prospects for Boardwalk Pipeline Partners, LP and its subsidiaries. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These and other risks and uncertainties concerning Boardwalk and its expansion projects are described in its filings with the U.S. Securities and Exchange Commission, which are available on Boardwalk's website at www.bwpmlp.com or on the SEC's website at www.sec.gov.