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Stock Market & Financial Investment News

News Breaks
August 12, 2014
08:38 EDTSJI, NJR, UGI, GASPennEast 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.
News For GAS;NJR;SJI;UGI From The Last 14 Days
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February 17, 2015
17:09 EDTUGIUGI Corporation announces 35 mile pipeline to supply 1000 MW power plant
UGI Corporation announced that a subsidiary of its wholly-owned subsidiary UGI Energy Services, LLC, plans to construct an approximately 35-mile pipeline to bring low-cost natural gas produced in the Marcellus Shale region to a planned 1,000-megawatt natural gas-fueled power generation facility near Shamokin Dam in Snyder County, Pennsylvania. Panda Power Funds and Sunbury Generation LP plan to construct the new “Hummel Station” power plant on the site of Sunbury Generation LP’s existing coal-fired plant that has been retired from operation. The new Hummel plant is expected to be operational in the second half of 2017. In addition to serving the generation plant, the new pipeline will supply natural gas and system reinforcement to distribution systems operated by UGI Penn Natural Gas, Inc. and UGI Central Penn Gas. Later this year, UGI Sunbury, LLC, a wholly-owned subsidiary of UGI Energy Services, LLC, will file for approval to construct and operate the pipeline from the Federal Energy Regulatory Commission, or FERC, the agency that regulates transportation of natural gas through interstate markets. The 20-inch diameter, steel pipeline will be designed to transport 200,000 Dth per day of natural gas. It is expected to cost approximately $160M and to be in service in early 2017.

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