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Piedmont Natural Gas Completes Natural Gas Pipeline Project To Serve Progress Energy's New Power Generation Plant In Wayne County, North Carolina

Stocks in this article: PNY

CHARLOTTE, N.C., June 1, 2012 /PRNewswire/ -- Piedmont Natural Gas (NYSE: PNY) today announced the completion of its Wayne County Pipeline Project, which will provide natural gas delivery service to a large new state-of-the-art natural gas-fueled combined-cycle plant at Progress Energy's H.F. Lee Energy Complex near Goldsboro, North Carolina.  The pipeline project, first announced by Piedmont in October 2009, involved the construction of 38 miles of 20-inch natural gas transmission pipelines and additional compression facilities.  Natural gas will be used at Progress Energy's new facility to replace three coal-fired units, helping to dramatically reduce overall emissions from the facility and lower operating costs.

Commenting on the project's completion, Piedmont Natural Gas chairman, president, and chief executive officer, Thomas E. Skains, said, "We are pleased to initiate our natural gas delivery service to the Progress Energy Wayne County project as scheduled on June 1, 2012.  This is a significant milestone for Piedmont as we execute our existing portfolio of power generation pipeline expansion projects."

"This is an important milestone in realizing our fleet-modernization strategy," said Lloyd M. Yates, president and CEO of Progress Energy Carolinas. "Increasing the fuel supply is a vital piece of the puzzle as we work to reduce environmental impacts from our operations while preserving the reliable service our customers depend on. Expanding natural gas supply further into Eastern North Carolina will also serve as a catalyst for economic growth in the region."

About Piedmont Natural Gas

Piedmont Natural Gas is an energy services company primarily engaged in the distribution of natural gas to more than one million residential, commercial and industrial utility customers in North Carolina, South Carolina and Tennessee, including 53,000 customers served by municipalities who are wholesale customers. Our subsidiaries are invested in joint venture, energy-related businesses, including unregulated retail natural gas marketing, interstate natural gas storage and intrastate natural gas transportation. More information about Piedmont Natural Gas is available on the Internet at http://www.piedmontng.com.

SOURCE Piedmont Natural Gas

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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