Dominion: Gas pipeline means $25M in property taxes

Associated Press

Copyright 2014, The Associated Press

RICHMOND, Va. (AP) — Energy provider Dominion Resources Inc. says a proposed pipeline that would deliver natural gas to the Southeast would provide more than $25 million in annual local property taxes.

The Richmond, Virginia-based company said Monday that it has provided the property tax estimates to local governments regarding the $5 billion Atlantic Coast Pipeline.

The 550-mile pipeline that would run through West Virginia, Virginia and North Carolina is a joint venture between Dominion, Duke Energy, Piedmont Natural Gas and AGL Resources.

The property taxes range from more than $10 million annually in Virginia to $8 million in West Virginia and $6 million in North Carolina.

Payments may begin as early as 2016. If approved by federal regulators, the pipeline is projected to be in service by late 2018.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs