PennEast Pipeline Company LLC, (PennEast) announced today it is
submitting its application September 24, 2015, to FERC for a permit
to proceed with construction of the proposed PennEast Pipeline,
signaling the next critical step in offering eastern Pennsylvania
and New Jersey energy consumers the environmental and economic
benefits of abundant, locally produced natural gas.
PennEast is requesting that FERC issue a Certificate of Public
Convenience and Necessity, which would authorize PennEast to
construct, install, own, operate and maintain the approximately
118-mile, 36-inch diameter PennEast Pipeline. Upon completion, the
underground natural gas pipeline would deliver approximately 1
billion cubic feet of natural gas per day and address the current
pipeline constraints that result in higher costs, increased price
volatility and reduced reliable energy supplies for consumers.
"The PennEast Pipeline Project is set to deliver reduced energy
costs to residents and businesses, thousands of good jobs, and a
cleaner environment by cultivating clean-burning American energy,"
said Peter Terranova, chairman, PennEast Pipeline board of
managers. "This safe, state of the art infrastructure project will
not only help meet the region's energy demands, it can power New
Jersey and Pennsylvania's economies for years to come."
Had the PennEast Pipeline been in service during the 2013-2014
winter, natural gas and electric consumers in eastern Pennsylvania
and New Jersey would have saved more than $893 million in energy
costs, according to an analysis by Concentric Energy Advisors.
PennEast Pipeline would have an estimated $1.6 billion positive
economic impact during design and construction alone, supporting
approximately 12,160 jobs and an associated $740 million in wages
according to a separate study by Econsult Solutions. "The New
Jersey State Chamber of Commerce supports the proposed PennEast
Pipeline," shared Tom Bracken, president and chief executive
officer of the New Jersey State Chamber of Commerce. "This Project
will provide a regional benefit to businesses and citizens, assist
in boosting New Jersey's economy, improve the overall critical
energy infrastructure and make our state more competitive, which
will lead to job creation."
PennEast's capacity is under long-term contracts, mainly by
public utilities and other market-serving entities, such as
electric generation companies, in New Jersey, Pennsylvania and New
York. "These companies recognize the importance of PennEast to the
local consumers they serve," said Terranova.
"The manufacturing community applauds PennEast's efforts to
increase reliability of natural gas for local users," said David
Taylor, president of the Pennsylvania Manufacturers Association.
"New pipeline capacity like that of PennEast is the key to
unlocking the competitive advantage of abundant Pennsylvania
natural gas. A recent analysis found that shale gas development
could provide U.S. manufacturers with cost savings of $22.3 billion
in 2030 and $34.1 billion in 2040, but these savings are contingent
on new pipelines like PennEast delivering affordable natural gas to
users."
Pending regulatory approval and issuance of a FERC certificate,
PennEast anticipates beginning construction in 2017. AGL Resources;
NJR Pipeline Company; PSEG Power LLC; SJI Midstream; Spectra Energy
Partners and UGI Energy Services form the PennEast Pipeline
Company. UGI Energy Services serves as the project manager and
would be the operator of the proposed PennEast Pipeline, announced
in August 2014.
For additional information on the PennEast Pipeline, visit
PennEastPipeline.com or call (844) 347-7119. About
PennEast Member 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.
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.
SJI Midstream www.sjindustries.com
SJI Midstream is a direct subsidiary of South Jersey Industries
(NYSE:SJI), formed in 2014 to house the company's interest in
midstream business activities, including its equity investment in
the PennEast Pipeline project. SJI, an energy services holding
company based in Folsom, NJ, operates its business through two
additional business segments, as well. South Jersey Gas, one of the
nation's fastest growing natural gas utilities, delivers clean,
efficient natural gas and promotes energy efficiency to more than
369,000 customers in southern New Jersey. SJI's non-regulated
businesses, under South Jersey Energy Solutions, promote
efficiency, clean technology and renewable energy by developing,
owning and operating on-site energy production facilities –
including Combined Heat and Power, Solar, and District Heating and
Cooling projects; acquiring and marketing natural gas and
electricity for retail customers; providing wholesale commodity
marketing and fuel supply management services; and offering HVAC
and other energy-efficiency related services. Spectra
Energy Partners www.spectraenergypartners.com
Spectra Energy Partners, LP (NYSE:SEP) is a Houston-based master
limited partnership, formed by Spectra Energy Corp (NYSE:SE). SEP
is one of the largest pipeline MLPs in the United States and
connects growing supply areas to high-demand markets for natural
gas, natural gas liquids, and crude oil. These assets include more
than 17,000 miles of transmission and gathering pipelines,
approximately 150 billion cubic feet of natural gas storage, and
approximately 4.8 million barrels of crude oil storage.
UGI Energy Services, LLC
www.ugies.com
UGI Energy Services is a subsidiary of UGI Corporation
(NYSE:UGI). UGI Energy Services markets natural gas, electricity
and liquid fuels to approximately 19,000 residential, commercial,
industrial, institutional and government customers in nine states
and Washington, D.C. In addition, it stores and delivers natural
gas and generates electricity.
CONTACT: Patricia Kornick
PennEast Pipeline
Mobile: (412) 780-4696
pkornick@penneastpipeline.com
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