WGL Unit To Invest $410M In 177-Mile Pa. Gas Pipeline

Law360, New York (February 21, 2014, 3:23 PM EST) -- A subsidiary of Washington, D.C.-based WGL Holdings Inc. said on Thursday that it will invest about $410 million into the creation of a new company that will co-own and develop a 177-mile natural gas pipeline in Pennsylvania.

The subsidiary, WGL Midstream Inc., will own a majority stake in the new, yet unnamed company, while the remaining stake will be shared among three undisclosed investors. The venture will co-own the pipeline with Transcontinental Gas Pipe Line Co. LLC. The 177-mile pipeline, which will be called the Central...
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