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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How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
Are my royalty payments transferable?
Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a different land owner.
What are royalties?
Royalties are payments from the gas company to the landowner as part of a lease agreement. Royalties payments cannot begin until production begins. The payments are dependent upon the market price of the resource.