North Dakota Industrial Commission votes to commit up to $500 million to natural gas pipeline [Yahoo! Finance]
MDU Resources Group, Inc. (Holding Company) (MDU)
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Source: Yahoo! Finance
On Tuesday, the commission approved an agreement with WBI Energy related to a financial backstop for a natural gas pipeline. (Photo by Michael Achterling/North Dakota Monitor) The North Dakota Industrial Commission has officially committed up to $500 million in state funding to WBI Energy's planned natural gas pipeline. Tuesday's unanimous vote marks the final step in a process of negotiations that began last summer, when the Industrial Commission selected WBI Energy's proposed Bakken East pipeline as the recipient of the guarantee over a competing applicant. The Bakken East pipeline will move 1 billion cubic feet of natural gas per day from McKenzie County to central and eastern North Dakota. WBI Energy, a subsidiary of MDU Resources, expects to bring the pipeline online by the end of 2030. Gov. Kelly Armstrong, chair of the three-member Industrial Commission, said commissioners are excited the project is moving forward. “The goal of the Legislature was both financial incen
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