ALLENTOWN — A natural gas driller and a pipeline company are proposing to build a new pipeline to carry natural gas from Pennsylvania’s Marcellus Shale to the New York and New England markets.

Houston-based Cabot Oil & Gas and Tulsa, Okla.-based Williams Partners announced plans for the high-pressure, large-diameter pipeline today.

The 120-mile Constitution Pipeline would transport gas from the heart of Cabot’s Marcellus Shale acreage in Susquehanna County to the Iroquois and Tennessee pipelines in southern New York state. Williams would be a 75 percent owner and operate the pipeline, while Cabot would retain a 25 percent stake.

The pipeline requires federal regulatory approval. The companies set a tentative date of March 2015 for the pipeline to go into service.