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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After a 3 1/2 hour public hearing and a short recess, Binghamton (NY) City Council last night convened in regular session to vote on several matters, including Local Law 11-7, a law “to effect a prohibition of natural gas and petroleum exploration and extraction activities, underground storage of natural gas, and disposal of natural gas or petroleum extraction, exploration and production wastes.” City Council members voted 6-1 in favor of the two-year ban on fracking, joining other cities around the state like Buffalo and Syracuse that have done the same.
New York Department of Environmental Conservation (DEC) Commissioner Joe Martens continues the delay and stall tactics he’s become known for on the issue of shale gas drilling in the state. The latest Martens delay came this week when he asked an outside consulting firm—Ecology & Environment—to take a closer look at costs fracking would create for local communities.
In a year-end “media gathering” with Ohio Gov. John Kasich, the governor recounted his administration’s accomplishments for his first 12 months in office, and then he turned his sights on 2012. At the top of his agenda for next year? Drilling in the Marcellus and Utica Shales.