The Federal Energy Regulatory Commission (FERC) approved a Spectra pipeline project which will bring new natural gas supplies to New York City. Spectra subsidiaries Texas Eastern and Algonquin will combine to build the new capacity, which will involve about 20 miles of pipeline, among other construction, such as compressor stations, with the total project weighing in at about $850 million. Texas Eastern and Algonquin hope to have the gas flowing into Manhattan by November 2013.
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