Piedmont indefinitely cancels Robeson LNG storage project

Source: Piedmont Natural Gas

With its announcement of the Sutton project, including an investment of $217 million to build a natural gas pipeline to the Progress plant in North Carolina, Piedmont Natural Gas (PNY) has indefinitely canceled the previously annouced Robeson LNG Storage Project.

Since the timing and design scope of the Sutton project will help serve the needs of Piedmont's growing natural gas customer base in the eastern part of North Carolina in a more cost effective manner, Piedmont also announced today that the Sutton project alleviates the need for it to pursue further development of its previously announced Robeson Liquefied Natural Gas (LNG) storage project at this time.

The Robeson LNG storage project was put on hold by the Company in March 2009 pending further evaluation of its growth requirements in the eastern part of North Carolina and the timing of natural gas infrastructure to serve that growth.

Although work on the Robeson LNG storage project will be suspended indefinitely, Piedmont anticipates that it will invest $60 million of the $217 million Sutton project in Robeson County, NC, which will have a significant positive economic impact on the county and expand Piedmont's role in the local community.

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