Laser Northeast Pipeline Selling to Williams for $750M
Laser Northeast Gathering, a 33-mile natural gas pipeline that cost $55 million to build and stretches from the very active Marcellus Shale drilling area of Susquehanna County (in northeastern PA) to Broome County (in New York’s Southern Tier), connecting to the interstate Millennium Pipeline, announced yesterday the company is selling itself to Williams Partners for $750 million. The deal covers Laser’s contracts to expand the pipeline and commitments from customers already signed on. When the project is fully completed it will have 75 miles of pipeline. Laser is a subsidiary of Delphi Midstream Partners.
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Last Friday, Pennsylvania Environmental Hearing Board Judge Bernard Labuskes, Jr. denied an appeal from 11 families in the Carter Road area of Dimock Township, PA who were asking that water shipments from Cabot Oil & Gas be restored. The 11 families, from an original group of 19 families, decided to not accept a remediation solution ordered by the state Department of Environmental Protection (DEP) that directed Cabot to pay the families up to twice the value of their homes and to install filtration systems that would remove all methane from their water supplies.
In the ongoing press event that is Dimock, PA, yesterday Gasland creator Josh Fox and actor Mark Rufalo, among others, gathered in Dimock to keep up the pressure and to continue to demagogue what has really happened in Dimock. See MDN’s