Members of PennEast’s team were invited to State College, Pa., on Thursday, October 13, to discuss the PennEast Pipeline Project.
Speaking to an audience of more than 150 attendees, Simon Bowman of PennEast Pipeline member company UGI Energy Services explained:
“The PennEast Pipeline Project is a billion-dollar, 120-mile project that will deliver 1 billion cubic feet of natural gas per day. The Project originates in the Wilkes-Barre area, traveling down into New Jersey with many interconnections along the way.”
Bowman next discussed PennEast’s economic impact, acknowledging that, “Yes, the Project will deliver a significant $1.62 billion economic impact, and we’re proud of the estimated 12,000 jobs its construction will support, but PennEast is really about long-term consumer benefits.”
Regarding consumers benefits, Bowman differentiated the Project as a “demand-pull,” as opposed to a “producer-push.”
“PennEast was developed due to increasing demand from regional electric generators and utilities. Price differences between northeast Pennsylvania’s abundant low-cost gas reserves, compared to gas prices in highly populated eastern Pennsylvania and New Jersey, were the catalyst for PennEast. The utilities that serve local communities are looking for PennEast’s cost savings, supply security and reliability, price stability and the many other benefits of sourcing local natural gas.”
Asked about PennEast’s relationship with landowners, Bowman described it as a long-term partnership.
“PennEast’s philosophy when it comes to landowner relationships is to be transparent, truthful and fair. We have done extensive research to ensure we are providing premium offers. Further, we’re proud of the fact that recently we were able to make 33 route adjustments. Many of these adjustments were due to landowner requests and accommodations, which were the result of ongoing open communication with landowners.”
In closing, Bowman explained that the Project would continue Pennsylvania’s energy revolution, enabling more communities to enjoy the benefits of clean-burning natural gas, and in particular extend those benefits to our friends and family in New Jersey.