Phila. Gas Works Goes on Auction Block – Marcellus Key in Sale?

Philadelphia is about to put the 176 year-old Philadelphia Gas Works (PGW) natural gas utility company on the auction block with the aim of privatizing it. Although it’s not viewed as a great opportunity (fixed base of around 500,000 customers who are getting more energy-efficient each year), the utility has an ace in the hole: the Marcellus Shale. Specifically, a buyer may consider converting an existing liquefied natural gas (LNG) facility owned and operated by PGW into an export facility for exporting Marcellus Shale gas. If that were to happen, let’s just say the world would be your oyster…

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