Pittsburgh airport looks to OK $500M drilling deal - 21 News Now, More Local News for Youngstown, Ohio -

Pittsburgh airport looks to OK $500M drilling deal

Updated:

PITTSBURGH (AP) - The Allegheny County Airport Authority is expected to approve a $500 million deal with Consol Energy for rights to drill for natural gas and oil at Pittsburgh International Airport.

County Executive Rich Fitzgerald outlined the deal at a public hearing Thursday night. The authority board will vote on it Friday.

Consol in December initially bid $20.8 million for drilling rights, which will include ongoing 18% royalties. Since then, Fitzgerald says the energy firm has agreed to increase its initial payment to $50 million and the royalties are expected to bring in $450 million more over the next 20 years.

Airport officials want to use at least some of the revenue to lower gate fees in hopes of attracting more airlines and flights to the airport about 10 miles west of the city.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • SpotlightSpotlightMore>>

  • Updated

    The Scrappers host “POPS at the Ballpark” featuring the Youngstown Symphony Orchestra

    The Scrappers host “POPS at the Ballpark” featuring the Youngstown Symphony Orchestra

    Tuesday, April 15 2014 2:04 PM EDT2014-04-15 18:04:57 GMT
    NILES, Ohio – The Mahoning Valley Scrappers and the Youngstown Symphony Orchestra are excited to host one of the Valley's premiere summer events, POPS at the Ballpark,More >>
    NILES, Ohio – The Mahoning Valley Scrappers and the Youngstown Symphony Orchestra are excited to host one of the Valley's premiere summer events, POPS at the Ballpark, presented by Stanley E. Shearer with Northwestern Mutual and 21 WFMJ on Saturday, August 23, 2014 at Eastwood Field.More >>
  • Around the WebMore>>

  • 2 boaters found dead in Lake Erie; 2 more missing

    2 boaters found dead in Lake Erie; 2 more missing

    Thursday, April 17 2014 3:49 PM EDT2014-04-17 19:49:32 GMT
    TOLEDO, Ohio (AP) - Authorities say the bodies of two of four missing boaters in western Lake Erie have been recovered off the Ohio shoreline. Officials say they recovered the bodies of two females Thursday.More >>
    TOLEDO, Ohio (AP) - Authorities say the bodies of two of four missing boaters in western Lake Erie have been recovered off the Ohio shoreline. Officials say they recovered the bodies of two females Thursday.More >>
  • Boston Marathon organizers confident of safe race

    Boston Marathon organizers confident of safe race

    Police stepped up patrols near the Boston Marathon finish line after a masked man walked in the street with a rice cooker in his backpack only hours after the city marked the anniversary of last year's deadly...More >>
    The arrest of a man with a rice cooker in his backpack near the Boston Marathon finish line led police to step up patrols Wednesday, while organizers sought to assure the city and runners of a safe race next week.More >>
  • Low of 19 degrees in Toledo breaks 139-year record

    Low of 19 degrees in Toledo breaks 139-year record

    Wednesday, April 16 2014 6:34 PM EDT2014-04-16 22:34:39 GMT
    TOLEDO, Ohio (AP) - Winter temperatures are refusing to go away in northwestern Ohio. The thermometer dropped to 19 degrees in Toledo Wednesday morning, breaking a 139-year-old record for the same dateMore >>
    TOLEDO, Ohio (AP) - Winter temperatures are refusing to go away in northwestern Ohio. The thermometer dropped to 19 degrees in Toledo Wednesday morning, breaking a 139-year-old record for the same dateMore >>
Powered by WorldNow
All content © Copyright 2000 - 2014 Worldnow and WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms