This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Inergy Midstream, UGI And WGL Announce Non-Binding Open Season For Commonwealth Pipeline

Inergy Midstream, L.P. (NYSE:NRGM), UGI Energy Services, Inc. a subsidiary of UGI Corporation (NYSE: UGI), and Capitol Energy Ventures Corp., a subsidiary of WGL Holdings, Inc. (NYSE:WGL), today announced they are conducting a non-binding Open Season for shippers desiring to transport natural gas volumes on the proposed Commonwealth Pipeline.

The proposed pipeline will transport up to 1.2 Bcf of natural gas per day to city gates and interstate pipeline systems at points between the southern terminus of Inergy Midstream’s MARC I line (at the interconnect with Transcontinental Gas Pipe Line Company, LLC’s Leidy Line near Station # 517 in Lycoming County, Pennsylvania) and the Dominion Cove Point LNG, LP pipeline in Charles County, Maryland. The primary purpose of the Commonwealth Pipeline is to provide a direct and flexible path for bringing natural gas produced in the Marcellus and Utica Shale plays in Pennsylvania and neighboring states to growing natural gas markets in central and eastern Pennsylvania; the metropolitan areas of Philadelphia, Baltimore, and Washington, D.C.; and the Delmarva Peninsula.

The proposed project is targeting shippers seeking (i) additional supply flexibility, diversity, and reliability; (ii) liquid points for trading locally-produced Marcellus and Utica shale gas; (iii) direct access to premium markets in the Northeast and Mid-Atlantic region, including new delivery points to constrained areas in the greater Washington, D.C. metropolitan area; (iv) the ability to capture pricing differentials between the various interconnected market pipelines; and (v) firm access to long-lived dry gas reserves that will not require the additional expense and potential interruptibility of natural gas liquids (“NGL”) processing. Commonwealth will provide shippers additional opportunities to buy and sell supplies, and to transport natural gas to where it is needed and valued most. This “market pull” project will provide shippers with a short-haul transportation option for direct access to Marcellus and Utica Shale gas supplies, thereby eliminating the expense of system-wide fuel and maintenance costs associated with long-haul pipelines traditionally bringing Gulf Coast supply to the Northeast and Mid-Atlantic markets.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs