Mountain Valley Pipeline wins final permit needed for construction, Manchin says

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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