ETRN - FERC gives Mountain Valley Pipeline additional four years to finish project

Equitrans Midstream ( NYSE: ETRN ) +2.1% in Wednesday's trading as the Federal Energy Regulatory Commission grants an additional four years for the Mountain Valley Pipeline to secure new federal permits and complete the project.

Equitrans ( ETRN ) and its partners had requested more time after repeated delays caused by litigation from groups concerned about the project's environmental impact.

The new deadline for completion of the 303-mile pipeline is October 2026.

The projected cost has climbed to $6.6B , and the expected completion date has been pushed back more than a half-dozen times.

Equitrans ( ETRN ) owns 48% of the MVP project; partners include NextEra Energy ( NEE ), Consolidated Edison ( ED ), AltaGas ( OTCPK:ATGFF ) and RGC Resources ( RGCO ).

Wells Fargo recently upgraded Equitrans Midstream ( ETRN ) to Overweight, saying the likelihood that the Mountain Valley Pipeline will be placed into service has " substantially increased ."

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