764044--3/20/2007--QUESTAR_PIPELINE_CO

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{operation, natural, condition}
{capital, credit, financial}
{regulation, change, law}
Investors should read carefully the following factors as well as the cautionary statements referred to in Forward-Looking Statements herein. If any of the risks and uncertainties described below or elsewhere in this Annual Report actually occur, the Company s business, financial condition or results of operations could be materially adversely affected. Questar Pipeline is subject to complex regulations on many levels Transportation and storage operations involve numerous risks that might result in accidents and other operating risks and costs . FERC regulates interstate transportation of natural ga s. Questar Pipeline is dependent on bank credit facilities and continued access to capital markets to successfully execute its operating strategies. General economic and other conditions impact Questar Pipeline results

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