Energy Business Rewind: Consol Takes Mine OFFLINE, Enbridge and Others Develop PIPELINE

Consol Energy Inc. (NYSE:CNX) will temporarily take its Buchanan Mine in Virginia offline. This is one of the company’s largest mines, but because of world weakness in demand for steel-making coal, prices have sharply fallen. Buchanan produces approximately 5 million tons of met coal annually, which is almost 10 percent of Consol’s total coal output.

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A new 250-mile pipeline for the transport of gas from the Utica shale in Ohio to the United States Midwest will be jointly developed by Enbridge, Inc. (NYSE:ENB), DTE Energy Company (NYSE:DTE), and Spectra Energy Corp. (NYSE:SE). The pipeline should be able to transport 1 billion cubic feet per day of natural gas to Ohio and Michigan, and will also employ the existing Vector Pipeline system to access the Ontario market.

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