PennEast Submits Application To FERC For Pipeline

(RTTNews) - PennEast Pipeline Co LLC on Thursday said it is submitting its application to FERC for a permit to proceed with construction of the proposed PennEast Pipeline that will offer natural gas to consumers in Pennsylvania and New Jersey.

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 118-mile, 36-inch diameter PennEast Pipeline.

Upon completion, the underground natural gas pipeline would deliver about 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.

PennEast Pipeline would have an estimated $1.6 billion positive economic impact during design and construction alone, and supporting 12,160 jobs, according to a separate study by Econsult Solutions.

Pending regulatory approval and issuance of a FERC certificate, PennEast anticipates beginning construction in 2017.

AGL Resources (GAS); NJR Pipeline Co; PSEG Power LLC; SJI Midstream; Spectra Energy Partners and UGI Energy Services form the PennEast Pipeline Co. UGI Energy Services serves as the project manager and would be the operator of the proposed PennEast Pipeline, announced in August 2014.