ACP Seeks FERC Permission To Build $5 Bln Interstate Natural Gas Pipeline

(RTTNews) - Atlantic Coast Pipeline, LLC, on Friday formally applied to the Federal Energy Regulatory Commission for permission to build a 564-mile interstate natural gas transmission pipeline.

Four major U.S. energy companies - Dominion Resources, Inc. (D), Duke Energy Corp. (DUK), Piedmont Natural Gas Co. Inc. (PNY) and AGL Resources Inc. (GAS) - formed Atlantic Coast Pipeline, LLC, to build and own the proposed Atlantic Coast Pipeline. The pipeline would transport abundant natural gas supplies from Harrison County, W.Va., southeast through Virginia with an extension to Chesapeake, Va., and south through central North Carolina to Robeson County.

Ownership stakes in Atlantic are: Dominion, 45%; Duke Energy, 40%; Piedmont, 10%; and AGL Resources, 5%. Utility subsidiaries and affiliates of all four companies plus PSNC Energy have signed on as customers of the pipeline. Ninety-six percent of the pipeline's capacity is subscribed by those companies.

Construction is expected to begin in the second half of 2016 and the pipeline is expected to be in service in the fourth quarter of 2018.