In the first of two announcements this week, PennEast Pipeline LLC and UGI Energy Services (ticker: UGI) announced plans to build a 100 mile, $1 billion 30-inch gas pipeline from Pennsylvania and New Jersey to take Marcellus gas production to market. The PennEast pipeline is designed to take 1 Bcf of natural gas per day, which can supply gas to the equivalent of 4.7 million homes. UGI is operator of the pipeline and said that the project serves to meet growing demand in the mid-Atlantic marketplace.

PennEast is a joint project of AGL Resources...


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