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Stock Market & Financial Investment News

News Breaks
August 12, 2014
08:38 EDTUGI, GAS, SJI, NJRPennEast Pipeline to construct 100-mile natural gas pipeline
PennEast Pipeline announced plans to construct a 100-mile pipeline intended to bring lower cost natural gas produced in the Marcellus Shale region to homes and businesses in Pennsylvania and New Jersey. PennEast is a joint project of AGL Resources (AGL), NJR Pipeline (NJR), a subsidiary of New Jersey Resources (NJR), South Jersey Industries (SJI) and UGI Energy Services, a subsidiary of UGI (UGI). The PennEast Pipeline is designed to provide natural gas service to the equivalent of 4.7M homes, up to 1 Bcf per day. The pipeline will begin in Luzerne County in northeastern Pennsylvania and end at Transco's Trenton-Woodbury interconnection in New Jersey. PennEast is investing nearly $1 billion to build the pipeline with the costs split among the four entities. UGIES is the project manager for the development of the project and will operate the pipeline.
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