- Construction of the EQT-led (EQT, EQM) Mountain Valley Pipeline is halted after the Fourth U.S. Circuit Court of Appeals vacated a key Clean Water Act permit late yesterday, ruling that state and federal regulators had not followed legal standards in approving river crossings for the 300-mile natural gas pipeline.
- The court said the U.S. Army Corps of Engineers “lacked authority” to substitute one type of requirement for construction of pipeline river crossings for an existing standard that environmental groups had argued in court could not be used by Mountain Valley.
- The court issued its ruling four days after hearing oral arguments in a case brought by the Sierra Club and other groups.
- Mountain Valley Pipeline is a joint venture of EQT, NextEra Energy (NYSE:NEE), Consolidated Energy (NYSE:ED), AltaGas (OTCPK:ATGFF) and RGC Midstream.