Core Insights - Strong demand for expanded energy infrastructure investment in Northern Nevada as Southwest Gas advances long-term energy solutions [1][3] - Successful closure of the Second Supplemental Open Season for the 2028 Expansion Project, allowing potential shippers to submit binding requests and refine capacity needs [2][3] Project Details - The Second Supplemental Open Season launched on November 11, 2025, to accommodate continued interest in the expansion project [2] - The project aims to enhance the existing 898-mile transmission system, increasing reliable energy availability and supporting economic development in Northern Nevada [5][6] Financial Projections - Capacity requests for the project total nearly 800 million cubic feet per day, with an estimated capital investment of approximately $1.7 billion [8] - Estimated capital spending is projected at around 20% in 2026, 25% in 2027, and 55% in 2028, with an expected in-service date of November 1, 2028 [8] - Following the project's in-service, potential annual incremental margin is estimated to be between $215 million and $245 million [8]