NED Not Dead? Kinder Morgan Files for 30 Day Stay, Antis Fret
"Last week midstream giant Kinder Morgan announced they didn’t have enough demand lined up for their proposed $3.3 billion Northeast Energy Direct (NED) pipeline and so they will suspend any more work on the project (see NED is Dead – Kinder Morgan Suspends $3.3B New England Pipeline). But is it truly dead? After the announcement Kinder Morgan asked both the Federal Energy Regulatory Commission (FERC) and the Massachusetts Dept. of Public Utilities (DPU) for a temporary stay on the project. The stay allows Kinder to formally brief the utility companies that did sign up about their decision. Lack of this pipeline puts some of those companies in a tight spot. The stay also allows relieves Kinder from filing certain responses required by certain deadlines in May. FERC has not yet responded to the stay request, but the DPU has–the DPU granted the stay. All of which kind of rattles the antis. They’re suspicious that Kinder may pull a fast one and revive the project if they let down their guard."