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Mountain Valley Pipeline held up by stay from West Virginia judge

Sep. 19, 2018 6:47 PM ETEQT Corporation (EQT) StockED, EQT, ATGFF, NEE, EQMBy: Carl Surran, SA News Editor25 Comments
  • Work on the Mountain Valley Pipeline has been halted after a West Virginia county court ordered a temporary stay on a state stream preservation permit related to the project's crossing of the Greenbrier River in West Virginia.
  • The petitioners argued the state's Environmental Protection department permit for the crossing is not in compliance with the Natural Streams Preservation Act.
  • Height Capital analysts say the project still has enough buffer time in its schedule to meet its Q4 2019 in-service target, even in a worst-case scenario in which a route change is required.
  • The project is a joint venture of EQT Corp. (EQT, EQM), NextEra Energy (NYSE:NEE), Consolidated Edison (NYSE:ED), AltaGas (OTCPK:ATGFF) and RGC Midstream.

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