WALL, N.J.--(BUSINESS WIRE)--Adelphia Gateway, LLC, a subsidiary of New Jersey Resources Corporation (NYSE:NJR), announced the successful conclusion of its binding open season with bids exceeding more than double the initial offered capacity and terms up to 20 years.
“The tremendous response to Adelphia Gateway’s open season demonstrates the demand for clean, safe, low-cost natural gas in the greater Philadelphia area,” said Stephen Westhoven, chief operating officer of New Jersey Resources. “By utilizing existing infrastructure, Adelphia Gateway will help meet the energy needs of a constrained marketplace with little to no impact to the environment and surrounding communities.”
Adelphia Gateway will operate an existing 84-mile pipeline in Pennsylvania with interconnections at Texas Eastern Transmission, LLC in Bucks County and Columbia Gas Transmission in Northampton County to Marcus Hook in Delaware County. The southern 50-mile portion of the pipeline will be repurposed to provide natural gas to the region. The northern 34-mile section of the pipeline, extending from Bucks County to Northampton County, was converted to deliver natural gas in 1996. Once complete, Adelphia Gateway will be able to transport an incremental 250,000 dekatherms of natural gas per day, approximately 91 million dekatherms per year, providing a direct and flexible path for delivering locally produced natural gas to growing and underserved markets in southeastern Pennsylvania and beyond.
Adelphia Gateway will work to finalize all precedent agreements and file its formal application with the Federal Energy Regulatory Commission (FERC). Pending receipt of all of the necessary permits and regulatory actions, Adelphia Gateway expects the project to be placed into service in late 2018.
About New Jersey Resources
New Jersey Resources (NYSE:NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:
- New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains over 7,400 miles of natural gas transportation and distribution infrastructure to serve over half a million customers in New Jersey’s Monmouth, Ocean and parts of Morris, Middlesex and Burlington counties.
- NJR Clean Energy Ventures invests in, owns and operates solar and onshore wind projects with a total capacity of more than 315 megawatts, providing residential and commercial customers with low-carbon solutions.
- NJR Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.
- NJR Midstream serves customers from local distributors and producers to electric generators and wholesale marketers through its 50 percent equity ownership in the Steckman Ridge natural gas storage facility and its stake in Dominion Midstream Partners, L.P., as well as its 20 percent equity interest in the PennEast Pipeline Project.
- NJR Home Services provides service contracts as well as heating, central air conditioning, water heaters, standby generators, solar and other indoor and outdoor comfort products to residential homes throughout New Jersey.
NJR and its more than 1,000 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®.
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