Reuters logo
PSEG to explore sale of Pa.-N.J. PennEast natgas pipeline stake
March 9, 2017 / 5:20 PM / 9 months ago

PSEG to explore sale of Pa.-N.J. PennEast natgas pipeline stake

March 9 (Reuters) - New Jersey power company Public Service Enterprise Group Inc (PSEG) said Thursday it was exploring a sale of its minority equity position in the PennEast interstate natural gas pipeline project from Pennsylvania to New Jersey.

“We look forward to being a PennEast customer. We’ve decided to put our focus on our core business – constructing three new combined cycle power plants and running our diverse fleet of generation plants,” Bill Levis, president of PSEG Power, said in a release.

“This project will provide PSE&G customers with greater and more reliable access to affordable natural gas,” he said.

PSE&G is PSEG’s power and gas distribution and transmission subsidiary in New Jersey.

PSEG said any such sale would be subject to approval by the PennEast Board. (Reporting by Scott DiSavino; Editing by Chizu Nomiyama)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below