Mountain Valley Pipeline: More Expensive, New Completion Date

May 6, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--A new chapter opened this week in the seemingly never-ending saga of the Mountain Valley Pipeline (MVP). Equitrans Midstream Corporation (NYSE:ETRN) (Pittsburgh, Pennsylvania), the lead partner in the project, said it pushed back the in-service start date of the 303-mile mile natural gas pipeline and raised its estimated cost to $6.6 billion.

Stretching from northwestern West Virginia to southern Virginia, the MVP project is 95% complete and is expected to provide up to 2 million dekatherms per day of natural gas from the Marcellus and Utica shale formations to markets in the Mid- and South-Atlantic regions.

But since its inception, the project has been beset by litigation and unfavorable court rulings. By one count, since 2017, the project has garnered at least 56 civil court actions by land owners and environmental groups in Virginia alone.

Other companies featured: NextEra Energy Corporation (NYSE:NEE)