On March 16, 2015 10:47 pm
Tulsa, OK-based natural gas infrastructure developer-owner Williams said Monday, March 16, construction of the company’s $3 billion Atlantic Sunrise natural gas pipeline project will generate roughly $1.6 billion in economic impact, according to a study authored by Pennsylvania State University researchers.
Lead author of the study (financed by Williams), Seth Blumsack, Associate Professor of Energy Policy at Penn State, said the proposed project would have a major, positive economic impact on Pennsylvania’s and Virginia’s economies, where new pipeline facilities would be built and operated.
According to the researchers, design and construction of Atlantic Sunrise could support roughly 8,000 jobs and an associated $870 million in economic value added during the construction period. The ongoing operation of the pipeline would generate approximately $1.9 million in annual economic impact, supporting 29 jobs, Penn State projects.
In a related report, Andrew Kleit, Professor of Energy and Environmental Economics at Penn State, found consumers served by the Transco pipeline in the southeast and Mid-Atlantic regions of the US could have saved $2.6 billion from 2012-2014 due to increased access to lower-priced Pennsylvania gas supply via the Atlantic Sunrise.