PSEG wants to sell its investment in the PennEast Pipeline
Tuesday, March 14, 2017
New Jersey’s largest utility, PSEG, will sell its stake in the PennEast Pipeline to Spectra Energy Partners, according to The Associated Press.
PSEG has a 10 percent equity stake in the roughly 120-mile, $1.2 billion pipeline project that’s designed to transport cheap Marcellus Shale natural gas from northern Pennsylvania to New Jersey.
The utility company plans on remaining a customer of the PennEast Pipeline, but is selling to focus more on its core business of running and building power plants.
Learn more: U.S. News > PSEG looks to sell stake in $1.2B PennEast Pipeline Project, Spectra Energy to buy stake in $1.2B PennEast Pipeline plan
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What are mineral rights?
Mineral rights are the rights of the owner of the property to mine or produce any resources below the surface of the property. Mineral rights are different from surface rights.
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Maybe. It depends on your particular lease agreement. Some companies allow property owners a yearly free gas allowance. But, the process of connecting your property to the gas source may be more complicated. Some companies will provide a hookup, others require the landowner to provide one.