2023-06-23 18:34:50 ET
The final permit needed to resume construction of the Mountain Valley Pipeline project has been approved , Senator Joe Manchin announced Friday.
Manchin, who serves as chairman of the U.S. Senate Energy and Natural Resources Committee, said the Army Corps of Engineers issued a water crossing permit authorizing the pipeline.
The compromise debt ceiling deal reached earlier this month between President Biden and Republican House Speaker Kevin McCarthy included a provision to fast-track the MVP project.
Once fully operational, the pipeline is expected to have a capacity of 2B cf/day; barring another legal challenge, construction on the project is expected to resume by July 1.
The $6.2B Mountain Valley Pipeline project, which is 94% completed, is led by Equitrans Midstream ( NYSE: ETRN ), with partners NextEra Energy ( NEE ), Consolidated Edison ( ED ), AltaGas ( OTCPK:ATGFF ) and RGC Resources ( RGCO ).
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Mountain Valley Pipeline wins final permit needed for construction, Manchin says