Located near the Waha hub in West Texas, the acquired assets have the capacity, when fully developed, to store approximately 10 Bcf of natural gas and include six underground storage caverns and permits for five additional caverns.
High costs, regulatory hurdles and environmentalist opponents have made it difficult to construct major natural gas pipelines out of Appalachia.
“MVP (Mountain Valley Pipeline) believes that pursuing the individual permit process ... is the most efficient regulatory path to completing the remaining components of the project,” RGC CEO Paul Nester told analysts on a call.
Two federal attorneys, who represent the Army Corps in an ongoing legal battle over the Dakota Access Pipeline, are withdrawing from the case between the Standing Rock Sioux Tribe and the Corps, a court filing says.
The Keystone XL oil pipeline project, announced 12 years ago to move Canadian crude from Alberta to Nebraska, has already been well under construction in Canada.
Canadian company also reported that it missed its estimates for its quarterly profit.
The newly formed Alternative Energy Group within Energy Transfer will be led by Tom Mason and continue the Dallas-based pipeline operator’s focus on renewable energy projects that started in 2019 with a Permian Basin solar deal.
Brookfield, which owns and operates assets in the utilities, transport and storage sectors, said it has acquired 19.65% economic interest in Inter Pipeline, to become its top shareholder.
Constraints on the midstream will result in higher gas prices, East Daley says, leading utilities to rely more on cheaper coal.
Concern about how U.S. President Joe Biden’s administration will handle the Dakota Access Pipeline (DAPL), which can transport more than 550,000 bbl/d out of the Bakken, is boosting prices.