Following the Mountain Valley Pipeline’s latest setback, EQT Corp. now expects the project to come online in 2023, according to Natural Gas Intelligence. 

Once online, the MVP could help narrow EQT’s natural gas price differentials and ease Appalachian takeaway constraints; however, the project’s variable timetable for completion continues to be a constraint.

EQT has capacity booked on the system and a stake in its lead sponsor Equitrans Midstream Corp. However, the company sold some of its Equitrans shares during the fourth quarter of 2021 and said it would consider selling more as the stock has declined.

“We’ll be thoughtful in when we want to sell them again,” he said. “I think the specter of timing is unknown on MVP. So, we’ll probably be a little patient here given that the stock is now under $8. We’ll wait until we get the view on MVP and the timing because I think that’s creating a cloud obviously over Equitrans’ stock.”

The MVP has been plagued by regulatory delays. The most recent occurred last week when a federal appeals court vacated its Endangered Species Act authorizations and set back construction further. Equitrans is reviewing its timeline in light of the decision but had previously expected to have the project completed this summer.

The 303-mile 2 Bcf/d pipeline would carry natural gas from West Virginia to the Southeast.

Learn more: Natural Gas Intelligence > EQT Considers Selling More Shares in MVP Sponsor as Uncertainty Plagues Project