Construction of the Equitrans' Mountain Valley Pipeline. (Source: Shutterstock)
Equitrans Midstream Corp. disclosed Oct. 18 that completion of the Mountain Valley Pipeline (MVP), most recently slated for the end of the year, is now forecast in the first quarter of 2024.
The expected cost of the project was also increased to $7.2 billion, rising above the previous estimate of $6.6 billion.
In a regulatory filing with the Securities and Exchange Commission, the company stated “unforeseen factors” caused the delay and access costs. After the controversial project received a green light from the federal government in July, financial settlements with contractors, the rising cost of fuel and labor and enhanced security measures factored into the extra costs and delays.
The MVP is a 300-mile pipeline running from Northwest West Virginia to Southern Virginia, tasked with bringing natural gas from the Marcellus and Utica shale regions to markets in the mid-Atlantic and Southeast.
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