PennEast becomes the latest to scuttle a natural gas pipeline project

Sept 27 (Reuters) – PennEast Pipeline said on Monday it would stop developing a proposed pipeline from Pennsylvania to New Jersey, the latest in a series of natural gas lines to run aground due to legal and regulatory challenges.

The project was one of several started in recent years to draw gas from the fast-growing Appalachian region, only to run into local or environmental opposition to more fossil-fuel infrastructure. Gas prices have surged in Europe and Asia due to rising demand and lack of supply, and that has boosted U.S. gas prices to seven-year highs.

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