Gulf Oil and Gas accountACCOUNT

Cabot Announces New Joint Venture Pipeline

Source: www.gulfoilandgas.com 2/21/2012, Location: North America

Cabot Oil & Gas Corporation announced a new Joint Venture with Williams Partners L.P. to develop and construct a large diameter pipeline, specifically designed to transport Cabot's Marcellus production to both the New England and New York markets. Deemed the "Constitution Pipeline" this high pressure pipeline will be capable of moving at least 500,000 Mcf per day from the heart of Cabot's Marcellus acreage in Susquehanna County, PA to interconnect with both Iroquois Gas Transmission and Tennessee Gas Pipeline in Schoharie County, NY. Williams Partners will be a 75% owner and, through its affiliate, will operate the pipeline, while Cabot will retain a 25% equity position. Cabot's commitment to firm transportation representing the initial design capacity of the pipeline is sufficient to enable the project to go forward subject to receipt and acceptance of the necessary regulatory approvals. The initial in service date for the system is slated for March 2015.

"This pipeline is truly the next big step of our capacity expansion program and positions us with access to the premium New England and New York marketplace that has historically been constrained from both a lack of reliable supply and pipeline infrastructure," said Dan O. Dinges, Chairman, President and Chief Executive Officer. "We see this pipeline playing an important role in the future development of our world class resource that will bring a reliable and dependable long term natural gas supply into an expanding premium market which for years has been searching for that fundamental supply link. As we move forward as a country and progress towards true energy independence, just consider what positive possibilities exist with our Marcellus production entering both a constrained demand area and an area hungry for development, especially in the power generation industry."

Dinges added, "The vast majority of our investment in the pipeline will be contributed during the 2014 and early 2015 time frame, when the macro environment for gas will benefit from new gas power generation and the potential for export. Additionally, we expect to be producing multiples of our current production volumes at that time."

Mergers and Acquisitions News in United States >>

India >>  4/17/2019 - Saudi Aramco is in “serious discussions” to acquire a 25 percent stake in the refining and petrochemical businesses of India’s Reliance Industries, ac...
Japan >>  4/17/2019 - Reliance Ethane Holding Pte. Ltd. (“REHPL”) (incorporated in Singapore, a wholly owned subsidiary of Reliance Industries Limited (“RIL”), having 100%...

Malaysia >>  4/15/2019 - PETRONAS has entered into an agreement with I Squared Capital, a leading global infrastructure investor, to acquire 100% interest in Amplus Energy Sol...
Saudi Arabia >>  4/15/2019 - The Saudi Arabian Oil Company (Saudi Aramco) and Hyundai Heavy Industries Holdings today announced that they have reached an agreement for Saudi Aramc...

United Arab Emirates >>  4/15/2019 - Twelve Seas Investment Company (Twelve Seas) (TWLV), a company formed for the purpose of entering into a business combination, and a United Arab Emira...
United States >>  4/12/2019 - Chevron Corporation has entered into a definitive agreement with Anadarko Petroleum Corporation to acquire all of the outstanding shares of Anadarko i...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


United States Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 |

Oil & Gas Projects in United States >>

More News

Related Links

CA US
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.