RECENT UPDATES
Duke Energy, Piedmont Natural Gas select
Dominion to build 550-mile 'Atlantic Coast
Pipeline' to transport natural gas from West
Virginia to eastern North Carolina
Sept. 2, 2014
Tweet - .@DukeEnergy, @PiedmontNG select @DomNews to build 550-mile natural gas pipeline from WV to NC http://bit.ly/VTngSM
CHARLOTTE, N.C. -
Duke Energy and Piedmont Natural Gas today announced the selection of Dominion to build and operate a 550-mile interstate natural gas pipeline from West Virginia, through Virginia and into eastern North Carolina to meet the region’s rapidly growing demand for natural gas.
Called the “Atlantic Coast Pipeline,” it also is expected to serve as a key infrastructure engine to drive economic development and create jobs, helping counties on the pipeline’s route attract new, energy-dependent businesses and industries – especially along the Interstate 95 corridor in eastern North Carolina.
Duke Energy and Piedmont selected Dominion’s project after reviewing submittals by five companies in response to an April 2014 solicitation for proposals to build North Carolina’s second major interstate natural gas pipeline.
The pipeline has an estimated cost of between $4.5 billion and $5 billion, an initial capacity of 1.5 billion cubic feet of natural gas per day, and a target in-service date of late 2018.
The project will require Federal Energy Regulatory Commission approval, which Dominion will seek to secure by summer 2016.
The pipeline’s main customers are six utilities and related companies that collectively will purchase a substantial majority of the pipeline’s capacity to transport natural gas – Duke Energy Carolinas, Duke Energy Progress, Virginia Power Services Energy, Piedmont Natural Gas, Virginia Natural Gas, and PSNC Energy.
The purchases will be made through 20-year contracts, subject to state regulatory approval. The pipeline’s owners are negotiating with other potential customers as well.
Gas will be carried through a 42-inch-diameter pipe in West Virginia and Virginia, and a 36-inch-diameter pipe in North Carolina.
Four regional owners
In addition to its role as
builder and operator, Dominion will be
one of the pipeline’s four owners – all
based in the Mid-Atlantic or Southeast
U.S.:
- Dominion – 45 percent ownership
- Duke Energy – 40 percent ownership
- Piedmont Natural Gas – 10 percent ownership
- AGL Resources – 5 percent ownership
In a joint statement, the four companies’ CEOs – Dominion’s Thomas Farrell, Duke Energy’s Lynn Good, Piedmont’s Thomas Skains and AGL Resources’ John Somerhalder – said the pipeline represents a major step forward for the region’s energy security, economic future and carbon reduction:
“The Atlantic Coast Pipeline is a transformational project for our region. It will create thousands of construction jobs during development and significant new revenue for state and local governments throughout North Carolina, Virginia and West Virginia. The expanded source of gas will also help fuel economic development across the region as businesses and homes rely more on natural gas.
“Natural gas is increasingly important for advanced electricity generation, contributing to significantly lower greenhouse gas and other emissions. The project will also provide more reliable access to new sources of natural gas, keeping consumers’ energy costs down – even during the coldest and hottest weather.”
Natural gas’ growing role in
North Carolina
Today, North Carolina is
served primarily by only one major
interstate natural gas pipeline that
traverses the state’s western and
central regions, transporting natural
gas largely from the Gulf Coast region.
To enhance reliability and energy security, Duke Energy’s and Piedmont’s solicitation sought proposals for a new, second natural gas pipeline that would transport additional large-scale supplies – from different sources – into the state.
The Atlantic Coast Pipeline will meet those objectives by roughly paralleling the Interstate 95 corridor in eastern North Carolina, and transporting gas from a different natural gas source – the Utica and Marcellus shale basins located largely in West Virginia, Ohio and Pennsylvania.
Duke Energy increasingly relies on natural gas to generate electricity after closing half of its 14 coal-fired power plants in North Carolina during the past three years.
The company has opened five natural gas-fired power plants in North Carolina since 2011 to replace those coal plants, and plans to open a natural gas power plant in South Carolina in 2017.
Natural gas-fired power plants release far fewer air emissions than do coal-fired power plants.
Duke Energy since 2005 has reduced company-wide carbon dioxide emissions by 20 percent, sulfur dioxide emissions by 84 percent and nitrogen oxide emissions by 63 percent by building natural gas-fired power plants, closing coal-fired power plants and installing additional emission control equipment.
Meanwhile, Piedmont Natural Gas’ residential, commercial and industrial customer demand for natural gas also continues to grow. Additionally, Piedmont is a major retail transporter of natural gas to power plants operated by Duke Energy and other electric utilities.
Last winter’s extremely cold temperatures – which resulted in high demand and high prices for natural gas across much of the U.S. – underscored the national need for more natural gas pipelines.
Duke Energy: owner and
customer
Duke Energy will own its 40
percent share of the pipeline through
the company’s Commercial Power business
unit.
Separately, Duke Energy’s two North Carolina regulated utilities – Duke Energy Carolinas and Duke Energy Progress – will be customers of the pipeline, paying the pipeline’s owners to transport natural gas.
The transaction between Duke Energy’s commercial and regulated units will require North Carolina Utilities Commission approval, which Duke Energy will request this fall.
Pipeline route
The pipeline will begin in
Harrison County, W.Va., at an existing
natural gas transmission facility, then
travel southeast through four other West
Virginia counties and 13 Virginia
counties before entering North Carolina.
A separate, 70-mile extension pipeline will split off from the main pipeline at the Virginia-North Carolina border, traveling eastward through southeast Virginia to that state’s Hampton Roads region, which includes Norfolk and other cities served by Virginia Natural Gas, an AGL Resources subsidiary.
In North Carolina, the pipeline will enter the state in Northampton County, travel southwest through six other counties, then terminate in Robeson County at existing Piedmont Natural Gas transmission facilities.
Dominion is conducting land surveys along the proposed pipeline route. It will determine the final route based on landowner input; community meetings in counties on the route; consultation with government agencies and other interested stakeholders; and an environmental, historical and cultural impact assessment.
Dominion will build and operate the pipeline through a services agreement with its Dominion Transmission subsidiary, which will oversee siting, permitting, engineering and legal issues.
Related links, tweets
Dominion news release –
http://dom.mediaroom.com/news
Atlantic Coast Pipeline website, route map – www.dom.com/acpipeline
Tweet – New ‘Atlantic Coast Pipeline’ will reduce carbon, other greenhouse gases http://bit.ly/VTngSm
Tweet – New ‘Atlantic Coast Pipeline’ will bring environmental, economic, energy benefits http://bit.ly/VTngSm
Duke Energy
Duke Energy is the largest
electric power holding company in the
United States with approximately $115
billion in total assets. Its regulated
utility operations serve approximately
7.2 million electric customers located
in six states in the Southeast and
Midwest. Its commercial power and
international energy business segments
own and operate diverse power generation
assets in North America and Latin
America, including a growing portfolio
of renewable energy assets in the United
States. Headquartered in Charlotte,
N.C., Duke Energy is a Fortune 250
company traded on the New York Stock
Exchange under the symbol DUK. More
information about the company is
available at:
www.duke-energy.com.
Media contact – Dave Scanzoni, 800-559-3853
Investor contact – Bill Currens, 704-382-1603
Dominion
Dominion is one of the
nation's largest producers and
transporters of energy, with a portfolio
of approximately 23,600 megawatts of
generation, 10,900 miles of natural gas
transmission, gathering and storage
pipeline and 6,400 miles of electric
transmission lines. Dominion operates
one of the nation's largest natural gas
storage systems with 947 billion cubic
feet of storage capacity and serves
utility and retail energy customers in
10 states. For more information about
Dominion, visit www.dom.com.
Media contact – Jim Norvelle, 804-771-3176, Jim.Norvelle@dom.com
Investor contact – Nathan Frost, 804-819-2187, Nathan.J.Frost@dom.com
Piedmont Natural Gas
Piedmont Natural Gas is an
energy services company, primarily
engaged in the distribution of natural
gas to more than one million
residential, commercial, industrial and
power generation utility customers in
portions of North Carolina, South
Carolina and Tennessee, including
customers served by municipalities who
are wholesale customers. Our
subsidiaries are invested in joint
venture, energy-related businesses,
including unregulated retail natural gas
marketing, and regulated interstate
natural gas transportation and storage,
and regulated intrastate natural gas
transportation businesses. More
information about Piedmont Natural Gas
is available on the Internet at
http://www.piedmontng.com/.
Media contact – David Trusty, 704-731-4391, david.trusty@piedmontng.com
Investor contact – Nick Giaimo, 704-731-4952, nicholas.giaimo@piedmontng.com
AGL Resources
AGL Resources (NYSE: GAS) is
an Atlanta-based energy services holding
company with operations in natural gas
distribution, retail operations,
wholesale services and midstream
operations. AGL Resources serves
approximately 4.5 million utility
customers through its regulated
distribution subsidiaries in seven
states. The company also serves
approximately 630,000 retail energy
customers and approximately 1.2 million
customer service contracts through its
SouthStar Energy Services joint venture
and Pivotal Home Solutions, which market
natural gas and related home services.
Other non-utility businesses include
asset management for natural gas
wholesale customers through Sequent
Energy Management and ownership and
operation of natural gas storage
facilities. AGL Resources is a member of
the S&P 500 Index. For more information,
visit
www.aglresources.com.
Media contact – Tami Gerke, 404-584-3873, tgerke@aglresources.com
Investor contact – Steve Cave, 404-584-3801, scave@aglresources.com
Forward-Looking Statement
This press release contains
forward-looking statements. These
statements are based on management's
current expectations and information
currently available and are believed to
be reasonable and are made in good
faith. However, the forward-looking
statements are subject to future events,
risks, uncertainties and other factors
that could cause actual results to
differ materially from those projected
in the statements. Factors that may make
the actual results differ from
anticipated results include, but are not
limited to, weather conditions, rate of
customer growth, the cost and
availability of natural gas, competition
from other energy providers, new
legislation and regulations and
application of existing laws and
regulations, economic and capital market
conditions, the cost and availability of
labor and materials and other
uncertainties, all of which are
difficult to predict and some of which
are beyond our control. For these
reasons, you should not place undue
reliance on these forward-looking
statements when making investment
decisions. The words "expect,"
"believe," "project," "anticipate,"
“if,” “likely,” "intend," "should,"
"could," "assume," "can," "estimate,"
"forecast," "future," "indicate,"
"outlook," "plan," "predict," "seek,"
"target," "would," “may,” “guidance,”
and variations of such words and similar
expressions are intended to identify
forward-looking statements.
Forward-looking statements are only as
of the date they are made and we do not
undertake any obligation to update
publicly any forward-looking statement,
either as a result of new information,
future events or otherwise. More
information about the risks and
uncertainties relating to these
forward-looking statements may be found
in Piedmont's latest Forms 10-K and 10-Q
and in Duke Energy’s and its
subsidiaries’ reports filed with the SEC
and available at the SEC’s website at
www.sec.gov.
VENDOR SUPPLY FORM
SPRING RIDGE CONSTRUCTORS AWARDED
CONTRACT FOR ACP
This is a collaboration of 4
different Companies along and DOM
Price Gregory International
NYSE PWR
US Pipeline INC SMPC LLC
Rockford Corporation NASDQ PRIM
Dominion Power
Here is an excellent example of
what a crony system it is out in the
SOVA Region in general but I think this
can also
create some excellent opportunities as
well using High Speed Broadband as
positive driver.
Look over article here and it will give
you a little background and while I know
you are more interested
in the work with the DOM AC PIPELINE, I
am thinking their is way to leverage and
combine some of the Network and Gear for
both aspects including end users !
Here is
the Article and more explanation on
Heartland Park and more of the failure
of the Virginia Growth Alliance also
notice at end of the article that the
One Non Government Company that they
signed a lease with being an Internet
group out of Roanoke has a broken
Website , Click the Links
Heartland Park to Reorganize
B2x Online
Heartland Industrial Site that was sold
6 years ago is becoming a High Tech
Mecca is Empty Surprised ? lol
The Point in showing the above is the
complete ineptness and indifference to
the Regional Authorities and Commissions
that are for some reason are in control
and responsible for bringing in tenants
,companies and boosting the economy in
essence usually don't and the
Board Member don't really have any thing
to gain either.
I Call this LOSE LOSE however money can
be spent and give the impression for the
Government and Politicos that great
things are GONNA happen .
Between the AC Pipelines coming in very
close and large growth of Mid
Atlantic Broadband Fiber on the Middle
Mile the timing could be very good and
with the massive Empire Sports
Entertainment Village with major Retail
Hospitality Education Etc elements to it
maybe
UGGGGGGGGGGGGGGGE lol .
We have some good connections at all
levels even the highest now
as
of Nov 8 so it could be interesting
MTC
www.sovagateway.weebly.com