AGL Resources Inc. reported Tuesday that it will invest $210 million in a new northwest Georgia pipeline.
The pipeline is being built by Williams Partners L.P. to bring Marcellus shale gas supplies to customers in northwest Georgia for electricity generation and growing local distribution.
The pipeline is part of Williams’ Transco system, the nation’s largest-volume interstate natural gas pipeline system.
AGL (NYSE: GAS) reported that on April 11, it entered into a construction and ownership agreement for what’s known as the Dalton Lateral pipeline. AGL will have a 50 percent ownership interest in the 106-mile pipeline that will be built in Georgia and extend the Transco natural gas pipeline into northwest Georgia. AGL said it will lease its stake in the pipeline once it’s placed into service. AGL said it will receive annual lease payments of $26 million.
via AGL to invest $210 million in northwest Georgia pipeline – Atlanta Business Chronicle.
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