A proposed natural gas pipeline, designed to provide substantial savings on natural gas services to over 4 million homes in Pennsylvania and New Jersey will begin in Northeastern Pennsylvania.
PennEast Pipeline Co. LLC of Wyomissing plans to build a 100-mile pipeline that aims to bring lower cost natural gas produced in the Marcellus Shale region to homes and businesses in Pennsylvania and New Jersey.
PennEast Pipeline Co. LLC, a joint project of several PA and NJ entities, announced the plan to invest nearly $1 billion to complete the venture. The LLC is a joint project of AGL Resources, NJR Pipeline Company, a subsidiary of New Jersey Resources, South Jersey Industries and UGI
Energy Services (UGIES), a subsidiary of UGI Corporation. UGIES will act as the project manager during development and will also operate the pipeline.The $1 billion investment will be split among the four participants.
The pipeline will begin in Luzerne County, which is in close proximity to the Marcellus Shale formation, and reach through Pennsylvania's -Carbon, Northampton and Bucks counties. The resource will then reach into New Jersey ending at Transco's Trenton-Woodbury interconnection.
According to a press release issued by PennEast, the project will also help benefit the region economically by creating jobs. PennEast believes an estimated 2,000 jobs will be created during the construction phase, plus many other supplementary positions.
The next steps for the billion dollar project include preliminary engineering studies and a formal application before the Federal Energy Regulatory Commission (FERC), followed by further approvals by local, state and federal entities. If approved, construction could begin in 2017.
The U.S. Energy Information Administration has recognized Pennsylvania as the fasted growing natural gas producing state in the entire county, largely attributed to the Marcellus Shale formation which extends through a large portion of the state. The shale contains a large portion of untapped natural gas and its close proximity to high demand markets makes it possible to provide lower cost gas to millions of residents.
For more information, or to read the entire press release visit the Penneast Pipeline website
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