Equitrans delays WV-VA Mountain Valley natgas pipe again, boosts cost (updated)

RGC Resources

20/02/2024 14:11

(Adds background, details)
    By Scott DiSavino
       Feb 20 (Reuters) - U.S. energy firm Equitrans Midstream
 ETRN.N  delayed the completion date for its Mountain Valley
natural gas pipeline from West Virginia to Virginia to the
second quarter of 2024 from the previous estimate of the first
quarter.
    The company also boosted the projected cost to complete the
project to around $7.57 billion-$7.63 billion, up from a prior
estimate of about $7.2 billion. 
    Equitrans spoke about Mountain Valley in its fourth earnings
report, which beat estimates.
        Mountain Valley is the only big gas pipeline under
construction in the U.S. Northeast. It has encountered numerous
regulatory and court fights that have stopped work several times
since construction began in 2018.
  
        The pipe, which is key to unlocking gas supplies from
Appalachia, the nation's biggest shale gas-producing region,
needed a bill from the U.S. Congress that was signed into law by
the 
    president
     and help from the 
    Supreme Court
     before it could restart construction.   
  

 (Reporting by Scott DiSavino)
 ((scott.disavino@thomsonreuters.com; +1 332 219 1922; Reuters
Messaging: scott.disavino.thomsonreuters.com@reuters.net))