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Stock Market & Financial Investment News

News Breaks
June 3, 2014
09:55 EDTDDominion seeks approval for projects to move natural gas to market
Dominion announced that yesterday it asked the Federal Energy Regulatory Commission, or FERC, to approve two projects that would provide additional natural gas supplies from the Appalachian Region. The New Market project in upstate New York would improve access for National Grid to meet its customers' growing demand for natural gas, while the Clarington project in West Virginia provides a route to transport gas supplies out of the Appalachian basin to market. The approximate costs of these two projects are $235M.
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September 2, 2014
08:08 EDTDDominion, Duke Energy, Piedmont Natural Gas, and AGL forms joint venture
Dominion (D), Duke Energy (DUK), Piedmont Natural Gas (PNY) and AGL Resources (GAS) announced the formation of a joint venture to build and own the proposed Atlantic Coast Pipeline. The $4.5B-$5B, 550-mile natural gas pipeline would run from Harrison County, W. Va., southeast through Virginia with an extension to Chesapeake, Va., and then south through central North Carolina to Robeson County. The partnership, called Atlantic Coast Pipeline LLC, will own the pipeline initially proposed by Dominion as the Southeast Reliability Project. Dominion is to build and operate the Atlantic Coast Pipeline on behalf of the venture. The joint venture ownership stakes are: Dominion, 45%; Duke Energy, 40%; Piedmont, 10%; and AGL Resources, 5%. Dominion expects to file its FERC application in the summer of 2015, receive the FERC Certificate of Public Convenience and Necessity in the summer of 2016, and begin construction shortly thereafter.

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