ATGFF - FERC fails to forward Mountain Valley Pipeline proposal

Equitrans Midstream (ETRN) closed -9.9% today as the Federal Energy Regulatory Commission failed to approve a proposal to speed up construction on part of the Mountain Valley Pipeline at the group's final meeting before the start of the new Biden administration.FERC deadlocked 2-2 - with the fifth commissioner abstaining from voting - on Mountain Valley’s request to bore under streams and wetlands along the pipeline's first 77 miles in West Virginia, and none of the three draft orders for the pipeline advanced.Environmental groups had objected to MVP's request to bore under 69 water bodies that lie between the pipeline's origin in northern West Virginia and the point where it will connect with another pipeline.Mountain Valley is owned by units of Equitrans Midstream, NextEra Energy (NEE), Consolidated Edison (ED), AltaGas (ATGFF) and RGC Resources (RGCO)."Natural gas has a much brighter future than crude oil, and Equitrans is well positioned to take advantage

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FERC fails to forward Mountain Valley Pipeline proposal