LNG

Oct 26 (LNGJ) - US companies Duke Energy and Piedmont Natural Gas said their boards had agreed a deal for Duke to acquire Piedmont for around $4.9 billion in cash, creating a sizeable feed-gas supplier to the developing LNG export industry.  "We look forward to welcoming Piedmont's employees and one million customers in the Carolinas and Tennessee to Duke Energy," said Lynn Good, President and Chief Executive Duke. Piedmont began operations in 1951 in Charlotte, North Carolina, and Duke Energy was founded in the city in 1904. Both companies have played leading roles in supporting economic development in the Carolinas and establishing the region as a major hub for energy companies. Duke and Piedmont also are key partners in the $5 billion Atlantic Coast Pipeline project.