Piedmoncis Natural Gas Company, the owner of Piedmois Natural gas, Inc., announced Wednesday that it is acquiring an existing gas field near Piedmond, North Carolina, which it is developing as part of a larger project.
Piedmons acquisition comes as natural gas prices have surged and as North Carolina has struggled with a shortage of natural gas.
The company, which is based in Asheville, North Caro, said it plans to begin commercial operations in 2019.
The deal will create a natural gas industry in North Carolina that could add up to up to $2 billion annually in sales to the state’s economy, according to the company.
Picked for a new gas field A Piedmnas purchase, which would allow the company to develop the new field and use it for its existing operations, could create about 200 jobs.
“This acquisition will create additional jobs in North Carolinians construction and maintenance, storage and distribution, and energy infrastructure,” the company said in a statement.
North Carolina is among the states struggling with a gas shortage, with prices of natural-gas drilling rigs rising in recent months.
The Piedms deal, which was announced at a Piedmite natural gas convention, is expected to close in the third quarter.
It would add Piedmos to the pipeline of companies that have acquired gas fields across North Carolina in recent years.