Piedmont Gets Regulatory Approval For Atlantic Coast Pipeline Agreements

(RTTNews) - Piedmont Natural Gas (PNY) Monday received regulatory approval from the North Carolina Utilities Commission for its affiliate agreements with the Atlantic Coast Pipeline.

Since Piedmont is both a financial partner and a customer of the proposed natural gas pipeline, Piedmont's affiliate agreements with Atlantic Coast Pipeline (ACP) are subject to North Carolina Utilities Commission approval. The approval of the agreements represents a key step in the overall regulatory approval process. Ultimate approval for the natural gas pipeline project rests with the Federal Energy Regulatory Commission.

The proposed natural gas pipeline would transport natural gas from Marcellus shale production region in West Virginia, Ohio and Pennsylvania, and deliver it through a 550-mile long natural gas pipeline constructed through parts of West Virginia, Virginia, and North Carolina. The new natural gas pipeline would be the second major interstate pipeline serving the state of North Carolina and is proposed to be in service by late 2018.