ETRN - Mountain Valley Pipeline start delayed cost estimated raised again

Equitrans Midstream ([[ETRN]] -2.7%) says it is delaying the in-service date to summer 2022 and raising the estimated cost of the Mountain Valley Pipeline from West Virginia to Virginia to $6.2B.The 303-mile natural gas pipeline had been expected to enter service by year-end 2021 at an estimated cost of $5.8B-$6B; when construction began four years ago, the project was expected to be finished by late 2018 at a cost of $3.7B.Equitrans says the latest delay and price increase is due to a change in the permitting process for ~420 remaining stream and wetland crossings.MVP now plans to seek individual permits to trench through some of water body crossings in Virginia and West Virginia, and ask the Federal Energy Regulatory Commission to allow drilling tunnels under others.

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Mountain Valley Pipeline start delayed, cost estimated raised again