"PennEast Pipeline said on Monday it would stop developing a proposed pipeline from Pennsylvania to New Jersey, the latest in a series of natural gas lines to run aground due to legal and regulatory challenges.
The project was one of several started in recent years to draw gas from the fast-growing Appalachian region, only to run into local or environmental opposition to more fossil-fuel infrastructure. Gas prices have surged in Europe and Asia due to rising demand and lack of supply, and that has boosted U.S. gas prices to seven-year highs.
In the United States, natural gas is used for power generation and heating more than any other fuel, according to U.S. Energy Department figures. With the cancellation of PennEast and other pipelines, the industry is becoming more concerned that additional production from the key Marcellus/Utica shale in Pennsylvania, Ohio and West Virginia will become trapped in the basin.
PennEast was canceled, the company said, because it had not yet received all of its required permits, including a water quality certification in New Jersey. It was one of the last major pipeline projects in the works set to pull gas from the Marcellus/Utica formation, the biggest U.S. gas shale basin."
Scott Disavino reports for Reuters September 27, 2021.
SEE ALSO:
"What The PennEast Cancellation Signals For FERC, Pipelines" (E&E News)
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