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

Williams Partners Seeks FERC Approval To Expand Natural Gas Service To New York City

Williams Partners L.P. (NYSE: WPZ) announced today that its Transco pipeline has filed an application with the Federal Energy Regulatory Commission (FERC) to provide another natural gas delivery point from its Transco pipeline to New York City.

The Rockaway Delivery Lateral Project is designed to provide approximately 647,000 dekatherms per day of natural gas delivery capacity to National Grid’s gas distribution system in Brooklyn and Queens, New York, providing National Grid with both supply flexibility and increased capacity to meet future incremental demand growth. The project is proposed to be placed into service during the second half of 2014.

“The project would create an additional delivery point from the existing Transco system into National Grid’s distribution network, enhancing service reliability and serving growth in the region,” said Frank Ferazzi, vice president and general manager of Williams Partners’ Transco pipeline. “This project is critical to provide the additional natural gas supplies New York City needs, particularly as it strives to meet federal environmental standards and its own ambitious clean energy goals identified in its PlaNYC 2030.”

The proposed 3.2-mile 26-inch lateral would consist of approximately 2.9 miles of offshore pipeline and approximately 0.3 miles of onshore pipeline. The preferred route avoids residential, commercial and sensitive environmental areas. The sea to shore portion of the pipeline (approximately one mile) would be constructed using subsurface directional drilling technology, allowing Williams to avoid all impacts to the beach and near-shore areas, as well as onshore portions of Jacob Riis Park.

If approved by FERC, construction could begin in late 2013. The capital cost of the project is estimated to be $182 million.

The Transco pipeline is a 10,200-mile pipeline system which transports natural gas to markets throughout the northeastern and southeastern United States. The current system capacity is approximately 9.7 million dekatherms per day.

1 of 2

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs