According to sources, Europe’s powerful gas pipeline operator, Italy-based Snam intends to lay a bid for a piece of Energy Transfer Partners’s $6 billion natural gas pipeline.
If the bid is successful, it would be Snam’s first US project and also be its first project outside Europe, as the US natural gas industry is going well.
Sources noted that Snam is now conducting due diligence on buying a 33% stake, sold by ETP for the Rover pipeline, according to Reuters.
Despite all the debate surrounding oil and gas pipelines in North America, both in the United States and Canada, they remain an attractive investment.
The Rover Pipeline is at a distance of 713 miles, starting in Southeastern Ohio, Western West Virginia, and Southwestern Pennsylvania, and then continues west through Ohio and then north into Michigan.
This pipeline can move 3.25 billion cubic feet per day, transporting gas from the Marcellus and Utica.