Share 'NJR’s Adelphia Gateway project to repurpose oil pipeline'
New Jersey Resources (NJR) on Thursday announced its Adelphia Gateway unit is acquiring Talen Energy’s Interstate Energy Co., owner of an 84-mile former crude oil pipeline in southeast Pennsylvania, for $166 million.
Additional contingent payments of up to $23 million, based on undisclosed conditions, also are part of the purchase price, Kallanish Energy learns.
NJR’s Adelphia Gateway project wil…
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