North American natural gas prices dropped dramatically in 2023 as producers maintained robust production levels in no small part because of drilling efficiencies. At the same time, midstreamers touted the need for more gas egress capacity while the Biden administration’s LNG authorization pause threw a wrench in the outlook for some export capacity projects. Read…
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EQT’s Rice Touts Natural Gas ‘Competitive Advantage’ in $5B-Plus Recombination Deal with Equitrans
EQT Corp., the largest natural gas producer in the United States, agreed Monday to buy former entity Equitrans Midstream Corp., bringing back together Appalachian-based giants in what executives said was a game-changing opportunity. The all-stock transaction, estimated Monday at around $5.5 billion, would hold 27.6 Tcfe of proved reserves across nearly two million net acres.…
MVP Start Date Slips, but Finish Line in Sight as Equitrans Eyes Strong Southeast Natural Gas Demand
Recent construction setbacks will see Mountain Valley Pipeline LLC’s (MVP) long-delayed completion slip further, now into the second quarter. Still, the finish line is in sight for backer Equitrans Midstream Corp. (ETRN), and the company is also eyeing longer-term growth facilitated by the eventual start-up of the embattled Appalachia-to-Southeast natural gas conduit. Last summer, Congress…
MVP Gauges Support for Southgate Natural Gas Extension as Mainline Shows Heartbeat
Mountain Valley Pipeline LLC (MVP) is conducting an open season for natural gas deliveries along its revamped Southgate extension planned for 550,000 Dth/d capacity. The non-binding open season runs through Friday (Feb. 16) and is for firm transportation service in Rockingham County, NC. MVP said it is targeting an in-service date of mid-2028. After years…
MVP to Rank Among ‘Most Valuable Pipelines’ in U.S., Says Equitrans CEO
Equitrans Midstream Corp. management remains upbeat about the long-term fundamentals underpinning the Mountain Valley Pipeline (MVP) despite recently postponing the project’s expected in-service date and upwardly revising its projected cost. Canonsburg, PA-based Equitrans has moved the targeted start-up date for the embattled 2 Bcf/d natural gas conduit to early 2024 from late 2023, and the…
MVP, PHMSA Enter Agreement as Operator Looks to ‘Reassure’ Public Over Safety Concerns
Mountain Valley Pipeline LLC (MVP) operator Equitrans Midstream Corp., seeking to complete construction of its controversial natural gas conduit after a long delay, has agreed to additional steps to address safety concerns raised by the Pipeline and Hazardous Materials Safety Administration (PHMSA). Equitrans would follow a number of additional safety measures in completing construction of…
Equitrans Finds Corrosion Caused Pennsylvania Natural Gas Storage Well Leak
Equitrans Midstream Corp. said corrosion was to blame for a natural gas storage well in Southwest Pennsylvania that leaked over 1 Bcf of natural gas into the atmosphere for more than 10 days last November. Corrosion on the outside diameter of the top joint of the well and debris between its outer and inner casings…
MVP ‘Grateful’ for Debt Deal Assist, Looking Toward 2023 Completion
Mountain Valley Pipeline LLC (MVP) developers expect to have the long-delayed and oft-challenged natural gas pipeline in service by the end of this year thanks to a major assist from provisions included in the bipartisan debt ceiling deal signed by President Biden. The Fiscal Responsibility Act, negotiated between the Biden administration and lawmakers, and signed…
Equitrans CEO Says Company May Bring MVP into Service in 2023, Plans for Pipeline Capex Tripling
The permits necessary for Equitrans Midstream Corp.’s long-delayed Mountain Valley Pipeline (MVP) to advance may come as early as May, allowing the company to bring the project in-service by 2023, CEO Thomas Karam announced. EQM is expecting the biological opinion from the U.S. Fish and Wildlife Service by next Tuesday, “and based on the permitting…
Equitrans Says MVP Coming in 2023, but ‘Disappointed’ with Permitting Reform Failures by Congress
Equitrans Midstream Corp.’s (EQM) long-delayed Mountain Valley Pipeline (MVP) may gain some necessary permits within the next few months, “which will allow us then to bring MVP into service in 2023,” said CEO Thomas Karam. EQM is expecting the biological opinion from the U.S. Fish and Wildlife Service by next Tuesday, “and based on the…