June 14, 2024 (press release) –
In-brief analysis
Data source: U.S. Energy Information Administration
On June 11, the Federal Energy Regulatory Commission (FERC) authorized the Mountain Valley Pipeline (MVP) to begin operations. MVP, 303 miles long, can move up to 2.0 billion cubic feet per day (Bcf/d) of natural gas from Wetzel County, West Virginia, to an interconnection with Transcontinental Gas Pipeline’s (Transco) compressor station 165 in Pittsylvania County, Virginia. Transco delivers natural gas through a 10,000-mile interstate transmission pipeline system extending from South Texas to New York.
MVP has signed long-term agreements with multiple shippers for the full capacity of the pipeline for at least 20 years from the in-service date. MVP will enable its shippers to access markets in the Northeast, mid-Atlantic, and Southeast United States.
In March 2024, EQT Corporation (EQT) acquired Equitrans Midstream Corporation, operator of MVP, creating a vertically integrated natural gas business in the Appalachian Basin with investments in natural gas production and transportation. EQT was the largest natural gas producing company in the United States in 2023, producing the equivalent of an average of 6.1 Bcf/d with associated liquids.
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