PennEast Pipeline successfully closes binding open season for proposed pipeline

PennEast Pipeline has announced the successful close of its binding open season for a proposed interstate natural gas pipeline designed to transport approximately 1 billion cubic feet per day to the northeast markets – or enough natural gas to heat more than 4.7 million homes.PennEast is a joint project of AGL Resources; NJR Pipeline Company, a subsidiary of New Jersey Resources; South Jersey Industries; and UGI Energy Services UGIES, a subsidiary of UGI Corporation. The open season resulted in 965,000 dekatherms per day of binding bids, which include the 485,000 dekatherms per day committed by the PennEast project sponsors and their affiliates. PennEast continues to receive interest from additional shippers and expects to finalize all agreements this month.

via PennEast Pipeline successfully closes binding open season for proposed pipeline | Shale Energy Insider.

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