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I saw this on a new customer's gas line. The gas line is not connected to anything-all appliances are oil and electric, and no gas meter. The gas line runs out of the house and into the ground toward the street. No meter or shut off valves.
It's a Honeywell valve, has low voltage wires on it that go no where, and it has what appears to be it's own bypass line. All branches have closed shut off valves that go no where.
No evidence of gas fireplace, and pipe dead ends 20' away in the basement.
Looks to be some sort of gas shut off.