Successful Open Season Concludes for Marcellus PennEast Pipeline

Barley three weeks ago a consortium of four companies announced a new pipeline project to carry Marcellus Shale gas from Luzerne County in northeastern Pennsylvania to Transco’s Trenton-Woodbury interconnection in New Jersey. The $1 billion PennEast Pipeline will be built by energy utility giant UGI, along with AGL Resources, NJR Pipeline Company (subsidiary of New Jersey Resources) and South Jersey Industries (see 3rd New NEPA Marcellus Pipeline Proposed, Connects to Trenton, NJ). The consortium announced yesterday the successful close of a very fast binding open season–a period of time when potential customers sign on the dotted line to take capacity in the new pipeline. Of course it didn’t hurt that the consortium itself had already reserved nearly half of the 1 billion cubic feet per day capacity for themselves! Still, the other half is now sold out too (a total of 965,000 dekatherms, or 936 million cubic feet, or .936 billion cubic feet)…

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