Piedmont buys into Constitution natural gas pipeline

Piedmont Natural Gas had made an equity investment in Constitution Pipeline Co. LLC, a natural gas pipeline project slated to transport gas from the Marcellus shale in northern Pennsylvania to the US Northeast. Piedmont’s wholly owned subsidiary Piedmont Constitution Pipeline Co. LLC will own 24% of the joint venture, joining previous partners Williams Partners LP (51%) and Cabot Oil and Gas Corp. (25%) (OGJ Online, Apr. 25, 2012).

Williams will build, operate, and maintain the 30-in. OD, 121-mile transmission pipeline, designed to transport 650 MMcfd of gas. Constitution will connect with the Iroquois Gas Transmission and Tennessee Gas Pipeline systems in Schoharie County, NY, and is already fully contracted with long-term commitments from producers operating in Pennsylvania.

Williams described Constitution as a key component in expanding its Susquehanna Supply Hub to connect Marcellus producers like Cabot and Southwestern Energy with the highest-value markets. The company expects to begin building Constitution in April 2014 with an in-service date of March 2015.

Constitution Pipeline is currently in the prefiling process with the US Federal Energy Regulatory Commission and plans to file a formal certificate application with FERC in second-quarter 2013. Piedmont’s investment totaled $180 million. It will not be a customer of Constitution Pipeline.

Contact Christopher E. Smith at chriss@ogjonline.com.

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