New Jersey Resources to acquire Pennsylvania pipeline

New Jersey Resources (NJR) subsidiary Adelphia Gateway LLC has entered into an agreement with Talen Generation LLC to purchase all of Talen Generation’s membership interests in Interstate Energy Company LLC, which owns and operates an existing 84-mile pipeline in southeastern Pennsylvania, for an estimated $166 million, plus additional contingent payments of up to $23 million based on certain specified conditions.

NJR’s Adelphia Gateway project will repurpose the southern 50-mile portion of the pipeline to flow natural gas to customers in the greater Philadelphia region. Once converted, the pipeline will be able to transport an incremental 250,000 dekatherms per day, approximately 91 million dekatherms per year, of natural gas to the greater Philadelphia market.

For more information, visit www.Njresources.com or call (732) 938-1000.

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