Sign in Subscribe
Electric utilities

MarketSpan Corporation Announces Cross Bay Pipeline Development Partnership

Strategic Insights

— 2 min read

MarketSpan Corporation, a leading energy company, has announced its partnership with Duke Energy Corporation and The Williams Companies to develop the Cross Bay pipeline, a new gas transportation project that will supply gas to New York City and Long Island. The joint venture aims to transport an additional 125 million cubic feet of gas per day to the region, with the potential to expand to 700 million cubic feet per day to meet future demand.

The partnership involves building new compression facilities and expanding existing pipelines to supply gas to customers served by Brooklyn Union and Consolidated Edison. The project is expected to cost $45 million in the first stage of development and is scheduled to begin operating in November 2000. The Cross Bay pipeline will transport gas from interstate pipelines in New Jersey to New York City and Long Island.

Key Takeaways:

  • MarketSpan Corporation has partnered with Duke Energy Corporation and The Williams Companies to develop the Cross Bay pipeline project.
  • The project aims to transport an additional 125 million cubic feet of gas per day to New York City and Long Island.
  • The project has the potential to expand to 700 million cubic feet per day to meet future demand.
  • The first stage of development is expected to cost $45 million.
  • New compression facilities and existing pipelines will be expanded to supply gas to customers served by Brooklyn Union and Consolidated Edison.
  • The project is scheduled to begin operating in November 2000.
  • The joint venture plans to file its plans with the Federal Energy Regulatory Commission in November 1998.
  • MarketSpan Corporation is an energy holding company that provides gas and electric services to over 2 million businesses and households in Long Island and parts of New York City.
  • The Cross Bay pipeline will transport gas from interstate pipelines in New Jersey to New York City and Long Island.

Statistics:

  • The project aims to transport an additional 125 million cubic feet of gas per day to New York City and Long Island.
  • The project has the potential to expand to 700 million cubic feet per day to meet future demand.
  • The first stage of development is expected to cost $45 million.
  • The project is scheduled to begin operating in November 2000.
  • MarketSpan Corporation provides gas and electric services to over 2 million businesses and households in Long Island and parts of New York City.
  • The territory covered by MarketSpan companies covers 1,417 square miles and a population of approximately 6.7 million people.

Sources:

  • Business Wire
  • MarketSpan Corporation press release (August 4, 1998)
  • MarketSpan Corporation website (www.marketspancorp.com)
  • Duke Energy Corporation website (www.duke-energy.com)
  • The Williams Companies website (www.williams.com)

Read more