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Mountain Valley Pipeline stands to win on court decision, cancelation of rival project

Wednesday, July 8, 2020 by

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The $5.7 billion Mountain Valley Pipeline stands to benefit from a favorable court ruling that should help Equitrans Midstream Corp finish the project and from the cancellation of a competing pipeline that may help it find new customers, according to Reuters.

On Monday, the U.S. Supreme Court issued an order in a case involving TC Energy Corp’s Keystone XL oil pipe that stayed part of a nationwide injunction by a federal district judge in Montana on the U.S. Army Corps of Engineers Nationwide Permit 12 program, which oil and gas pipelines need to cross bodies of water.

Additionally, Dominion Energy Inc and Duke Energy Corp abandoned their $8 billion Atlantic Coast Pipeline, which would have ran from West Virginia to North Carolina, due to legal uncertainties. This turn of events could provide Mountain Valley, which will run from West Virginia to Virginia, and its proposed Southgate extension into North Carolina with some new customers that had been counting on the completion of the Atlantic Coast Pipeline.

Learn more: Reuters > Equitrans’ stock spikes after court ruling

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