PSEG Power Joins PennEast Pipeline Project

WYOMISSING, Pa., Sept. 18, 2014 /PRNewswire/ -- PennEast Pipeline Company, LLC, today announced that PSEG Power LLC, a subsidiary of the Public Service Enterprise Group, has joined the project to develop a 100-mile pipeline from Pennsylvania to New Jersey that will transport lower cost natural gas to homes and businesses.

The PennEast Pipeline will run from Luzerne County in northeastern Pennsylvania to Transco's Trenton-Woodbury interconnection in New Jersey. The pipeline, projected to go into service in 2017, will transport up to 1 bcf of clean, natural gas per day -- enough natural gas to serve approximately 4.7 million homes.

Additional pipeline partners include AGL Resources; NJR Pipeline Company, a subsidiary of New Jersey Resources; South Jersey Industries; and UGI Energy Services (UGIES), a subsidiary of UGI Corporation.  PSEG Power LLC, will have a 12 percent interest in PennEast.  The other PennEast Pipeline Company members each will have 22 percent interest.

"PennEast is pleased to welcome PSEG Power as a partner and shipper on the PennEast Pipeline," said Peter Terranova, Chair of the PennEast Board of Managers.  "Now, nearly all major market centers in New Jersey will benefit from this direct connection to reliable and affordable Marcellus Shale gas from Pennsylvania." 

PennEast is investing nearly $1 billion to build the new pipeline. Aside from providing greater access to lower cost natural gas, the project will benefit the region's economy and create local jobs. It is estimated that more than 2,000 jobs will be created during the seven-month construction phase. 

Preliminary engineering studies have begun, and a formal application will be filed with the Federal Energy Regulatory Commission (FERC) in 2015. UGIES is the project manager for the development of the project and will operate the pipeline. 

For additional information, visit www.penneastpipeline.com, call toll-free (844) 347-7119 or send an e-mail to [email protected].

About PennEast Sponsor Companies:

AGL Resources www.aglresources.com
AGL Resources (NYSE: GAS) is an Atlanta-based energy services holding company with operations in natural gas distribution, retail operations, wholesale services and midstream operations. AGL Resources serves approximately 4.5 million utility customers through its regulated distribution subsidiaries in seven states. The company also serves approximately 630,000 retail energy customers and approximately 1.2 million customer service contracts through its SouthStar Energy Services joint venture and Pivotal Home Solutions, which market natural gas and related home services. Other non-utility businesses include asset management for natural gas wholesale customers through Sequent Energy Management and ownership and operation of natural gas storage facilities. AGL Resources is a member of the S&P 500 Index. For more information, visit www.aglresources.com.

NJR Pipeline Company www.njresources.com 
NJR Pipeline Company is a subsidiary of New Jersey Resources (NYSE: NJR), a Fortune 1000 company that provides safe and reliable natural gas and clean energy services, including transportation, distribution and asset management. NJR Pipeline is part of NJR's strong financial profile and ongoing commitment to invest in and own midstream assets, including natural gas storage and transportation pipelines. NJR's midstream assets are currently comprised of a 5.53 percent stake in Iroquois Pipeline and a 50 percent stake in Steckman Ridge, a 12 Bcf storage field in south central Pennsylvania, and now equity ownership in the PennEast Pipeline.  

Public Service Enterprise Group www.pseg.com 
Public Service Enterprise Group (NYSE: PEG) is a publicly traded diversified energy company with annual revenues of $10 billion. Its operating subsidiaries are: PSEG Power, Public Service Electric and Gas Company (PSE&G) and PSEG Long Island.

South Jersey Industries www.sjindustries.com 
South Jersey Industries (NYSE: SJI), a member of the MSCI Global Climate Index, offers solutions to climate change and helps customers control energy costs. South Jersey Gas, one of the nation's fastest growing natural gas utilities, delivers clean, efficient natural gas and promotes energy efficiency to customers in southern New Jersey. SJI's non-regulated businesses, under South Jersey Energy Solutions, promote efficiency, clean technology and renewable energy by developing and operating on-site energy production facilities; acquiring and marketing natural gas and electricity for retail customers; providing wholesale commodity marketing and risk management services; and offering HVAC and other energy-efficiency related services.

UGI Energy Services www.ugies.com 
UGI Energy Services is a subsidiary of UGI Corporation (NYSE: UGI). Its midstream services division builds, owns and operates natural gas storage facilities and high-pressure transmission and gathering lines. The company also owns and operates LNG and propane peaking facilities and terminals in Pennsylvania. UGIES also owns coal, natural gas and renewable-fueled generating assets. UGIES' retail energy marketing division sells natural gas, electricity and liquid fuels to approximately 30,000 business, commercial, industrial, institutional and government customers in nine states and Washington, DC. The UGI name has been known in the region for more than 130 years and is an integral part of the community.

SOURCE PennEast Pipeline Company, LLC