Four-plus years behind schedule and nearly double the original $3.5 billion budget, the long-beleaguered Mountain Valley natural gas pipeline has seemingly risen from the ashes. But the devil may still reside in the details.
Reese Energy Consulting today is following the latest news from Pa.-based Equitrans, which wasted no time this morning expressing a healthy vote of confidence the now $6.6 billion project will be completed in the second half of 2023.
Despite years of legal hurdles, the 304-mile Mountain Valley Pipeline is already 94% complete. Pipe is already in the ground, stretching from northwestern W.V., to southern Va., and will ultimately flow 2 BCFD of gas from the nation’s largest shale gas basin to markets in the Mid- and South Atlantic regions. If (when) the project is completed, its success will be an industry victory, especially for proposed regional gas pipelines that have met their doom over the last two years. In addition to the “commitment” to pass legislation on Sept. 30 and allow EQT to finally finish what it started the deal also includes a proposal to streamline the permitting process for energy infrastructure across the nation. Details, details.