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Williams (NYSE:WMB) announced today a significant regulatory milestone for its Northeast Supply Enhancement (NESE) project, securing the Clean Water Act Section 401 and 404 permits from the New Jersey Department of Environmental Protection (NJDEP) as well as the Section 401 Water Quality Certification and related permits from the New York State Department of Environmental Conservation (NYSDEC).
The NESE project is designed to improve energy affordability and reliability in New York City by expanding access to critical natural gas infrastructure and displacing high-emitting and costly fuel oil, which is delivered into New York City by diesel trucks. NESE will enhance energy security, lower costs, and reduce emissions, and the project is expected to generate over $1 billion in investment, create thousands of construction-related jobs, and deliver long-term benefits to New York residents and commercial energy users.
"We're proud to move NESE forward and do our part in providing New Yorkers access to clean, reliable and affordable natural gas," said Chad Zamarin, president and CEO of Williams. "This project reflects our commitment to deliver clean and reliable energy, while lowering energy costs and supporting economic growth and environmental stewardship."
In parallel, Williams continues to advance the Constitution Pipeline project, a pipeline in upstate New York that will serve markets in New York, Massachusetts, Connecticut, Rhode Island, Vermont and Maine. The company has withdrawn its current water permit application with NYSDEC and is preparing to follow up with additional filings to ensure that this critical infrastructure project obtains the regulatory approvals needed for construction and operation.
"There is increasing recognition that energy affordability directly impacts everyday affordability," said Zamarin. "Natural gas is one of our nation's lowest-cost resources, with U.S. natural gas produced at a cost equivalent to less than 50 cents per gallon of gasoline. Expanding natural gas infrastructure is vital to lowering costs and increasing economic opportunity, and the NESE and Constitution projects are important to connecting energy to opportunity in the Northeast."
Posted In: WMB
