Piedmont Natural Gas has announced its equity investment in Constitution Pipeline Company, LLC, a natural gas pipeline project slated to transport natural gas supplies from the prolific Marcellus supply region in northern Pennsylvania to major northeastern markets. Piedmont will join Williams Partners L.P. and Cabot Oil and Gas Corporation as equity participant in the natural gas pipeline project.
The project is scheduled to be in service by March 2015.
“Piedmont’s equity participation in the Constitution Pipeline project aligns very well with our strategic focus on expanding our investments in complementary energy-related businesses as a means of enhancing shareholder value,” said Piedmont’s Chairman, President, and CEO, Thomas E. Skains. “We are excited about making an investment in strategic pipeline infrastructure in the Marcellus supply basin that will transport clean, low cost natural gas supplies to premium East Coast markets and provide substantial benefits for both natural gas producers and consumers. We are equally excited to be joining such strong joint venture partners as Williams Partners and Cabot Oil and Gas, as both are outstanding companies and widely respected in our industry.”