WYOMISSING, Pa., Sept. 18, 2014 /PRNewswire/ -- PennEast Pipeline
Company, LLC, today announced that PSEG Power LLC, a subsidiary of
the Public Service Enterprise Group, has joined the project to
develop a 100-mile pipeline from Pennsylvania to New
Jersey that will transport lower cost natural gas to homes
and businesses.
The PennEast Pipeline will run from Luzerne County in northeastern Pennsylvania to Transco's Trenton-Woodbury interconnection in New Jersey. The pipeline, projected to go into
service in 2017, will transport up to 1 bcf of clean, natural gas
per day -- enough natural gas to serve approximately 4.7 million
homes.
Additional pipeline partners include AGL Resources; NJR Pipeline
Company, a subsidiary of New Jersey Resources; South Jersey
Industries; and UGI Energy Services (UGIES), a subsidiary of UGI
Corporation. PSEG Power LLC, will have a 12 percent interest
in PennEast. The other PennEast Pipeline Company members each
will have 22 percent interest.
"PennEast is pleased to welcome PSEG Power as a partner and
shipper on the PennEast Pipeline," said Peter Terranova, Chair of the PennEast Board of
Managers. "Now, nearly all major market centers in
New Jersey will benefit from this
direct connection to reliable and affordable Marcellus Shale gas from Pennsylvania."
PennEast is investing nearly $1
billion to build the new pipeline. Aside from providing
greater access to lower cost natural gas, the project will benefit
the region's economy and create local jobs. It is estimated that
more than 2,000 jobs will be created during the seven-month
construction phase.
Preliminary engineering studies have begun, and a formal
application will be filed with the Federal Energy Regulatory
Commission (FERC) in 2015. UGIES is the project manager for the
development of the project and will operate the pipeline.
For additional information, visit www.penneastpipeline.com, call
toll-free (844) 347-7119 or send an e-mail to
answers@penneastpipeline.com.
About PennEast Sponsor Companies:
AGL Resources www.aglresources.com
AGL Resources (NYSE: GAS) is an Atlanta-based energy services holding company
with operations in natural gas distribution, retail operations,
wholesale services and midstream operations. AGL Resources serves
approximately 4.5 million utility customers through its regulated
distribution subsidiaries in seven states. The company also serves
approximately 630,000 retail energy customers and approximately 1.2
million customer service contracts through its SouthStar Energy
Services joint venture and Pivotal Home Solutions, which market
natural gas and related home services. Other non-utility businesses
include asset management for natural gas wholesale customers
through Sequent Energy Management and ownership and operation of
natural gas storage facilities. AGL Resources is a member of the
S&P 500 Index. For more information, visit
www.aglresources.com.
NJR Pipeline Company www.njresources.com
NJR Pipeline Company is a subsidiary of New Jersey Resources (NYSE:
NJR), a Fortune 1000 company that provides safe and reliable
natural gas and clean energy services, including transportation,
distribution and asset management. NJR Pipeline is part of NJR's
strong financial profile and ongoing commitment to invest in and
own midstream assets, including natural gas storage and
transportation pipelines. NJR's midstream assets are currently
comprised of a 5.53 percent stake in Iroquois Pipeline and a 50
percent stake in Steckman Ridge, a 12 Bcf storage field in south
central Pennsylvania, and now
equity ownership in the PennEast Pipeline.
Public Service Enterprise Group www.pseg.com
Public Service Enterprise Group (NYSE: PEG) is a publicly traded
diversified energy company with annual revenues of $10 billion. Its operating subsidiaries are: PSEG
Power, Public Service Electric and Gas Company (PSE&G) and PSEG
Long Island.
South Jersey Industries www.sjindustries.com
South Jersey Industries (NYSE: SJI), a member of the MSCI Global
Climate Index, offers solutions to climate change and helps
customers control energy costs. South Jersey Gas, one of the
nation's fastest growing natural gas utilities, delivers clean,
efficient natural gas and promotes energy efficiency to customers
in southern New Jersey. SJI's
non-regulated businesses, under South Jersey Energy Solutions,
promote efficiency, clean technology and renewable energy by
developing and operating on-site energy production facilities;
acquiring and marketing natural gas and electricity for retail
customers; providing wholesale commodity marketing and risk
management services; and offering HVAC and other energy-efficiency
related services.
UGI Energy Services www.ugies.com
UGI Energy Services is a subsidiary of UGI Corporation (NYSE: UGI).
Its midstream services division builds, owns and operates natural
gas storage facilities and high-pressure transmission and gathering
lines. The company also owns and operates LNG and propane peaking
facilities and terminals in Pennsylvania. UGIES also owns coal, natural
gas and renewable-fueled generating assets. UGIES' retail energy
marketing division sells natural gas, electricity and liquid fuels
to approximately 30,000 business, commercial, industrial,
institutional and government customers in nine states and
Washington, DC. The UGI name has
been known in the region for more than 130 years and is an integral
part of the community.
SOURCE PennEast Pipeline Company, LLC