New Jersey Resources Corp. (NJR) has pulled the PennEast Pipeline from its financial growth projections through 2024, citing ongoing delays that have plagued the natural gas project. 

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“PennEast is an important project for the Northeast,” said NJR CEO Stephen Westhoven during the analyst day in late November. “But uncertainty around an in-service date requires us to take this action.” He noted that the company remains committed to the pipeline, adding that the project could eventually offer upside for cash flow if it does move forward.

Through subsidiary NJR Pipeline Co., the company holds a 20% stake in the project. PennEast is one of the last major Appalachian greenfield pipeline projects fighting for completion as the natural gas industry’s opponents step up their...