Equitrans wants U.S. legislation to help finish Mountain Valley natgas pipe (updated)

RGC Resources

01/11/2022 13:49

(Adds background on permitting reform legislation)
       Nov 1 (Reuters) - U.S. energy company Equitrans
Midstream Corp  ETRN.N  said on Tuesday that the best path to
complete its Mountain Valley natural gas pipeline from West
Virginia to Virginia by the second half of 2023 was through U.S.
permitting reform legislation.
    Equitrans also said in its third quarter earnings release
that federal legislation would help the company stick to its
previously announced $6.6 billion budget for the project.
        Mountain Valley - the only big gas pipe under
construction in Appalachia - is one of several U.S. pipeline
projects delayed by regulatory and legal fights with
environmental and local groups. These fights stem from federal
permit problems issued during President Donald Trump's
administration.  urn:newsml:reuters.com:*:nL1N2QU1HK
  
        The project is key to unlocking more gas supplies from
Appalachia, the nation's biggest shale gas basin.  urn:newsml:reuters.com:*:nL2N2WP2VD
  
        In early August, Democratic U.S. Senator Joe Manchin
secured a commitment from President Joe Biden, Senate Majority
Leader Chuck Schumer and House of Representatives Speaker Nancy
Pelosi to enact permitting reform legislation that would also
allow the long-delayed Mountain Valley to be completed.
 urn:newsml:reuters.com:*:nL1N2ZD2FX
  
        To gain those commitments, Manchin agreed to support
Biden's Inflation Reduction Act (IRA). The IRA has since passed
but despite the support of Biden, Schumer and Pelosi, there was
not enough other support in Congress to keep the permitting
reform in the legislation.
  
 (Reporting by Scott DiSavino; Editing by Chizu Nomiyama)
 ((scott.disavino@thomsonreuters.com; +1 332 219 1922; Reuters
Messaging: scott.disavino.thomsonreuters.com@reuters.net))