Natural gas pipeline on hold...for now.

By Megan Carpenter

December 19, 2013 Updated Dec 19, 2013 at 8:48 PM EDT

Binghamton, NY (WBNG Binghamton) A lack of market interest has put a high pressure natural gas pipeline project on hold for parts of Southern and Central New York.

The Millennium Pipeline Company proposed a 60-mile pipeline to run from Endicott to Syracuse along Interstate 81. The project would be broken into two phases. The first would run a pipeline from Binghamton to an existing pipeline in Cortland. Millennium officials said this phase of the project is still being considered.

The company is however postponing the second phase: Running the pipeline from Cortland to Syracuse. The goal is to construct this pipeline to connect with three existing lines -- by Millennium, Dominion and Tennessee -- in central New York.

The plan has been met with resistance from the beginning. The Stop I-81 Pipeline Group said Thursday the idea is to transfer hydrofracked gas from Pennsylvania into these three lines. Water pollution, property damage and devaluation of homes are three consequences the anti-gas drilling group said the public should consider before signing over their land to any company.

"They're going to get billions and you're going to get a few dollars up front," said homeowner Craig Stevens.

Others agree.

"Understand that it would cause serious consequences to your mortgage and your insurance," said Attorney Joe Heath, whose home sits on land in Cortland through which the the pipeline would run.

Officials from Millennium said the project hold has nothing to do with the anti-gas group, and that its decision was based only on market demand. They also reiterated the project's first phase is still in the works.