Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Equitrans Jumps After Mountain Valley Pipe Gets Key Permit (1)

Dec. 14, 2021, 8:53 PM

Equitrans Midstream Corp. shares jumped by the most in more than a week after the company secured a key water permit for its Mountain Valley natural gas pipeline.

The approval by Virginia regulators Tuesday brings the project closer to completion after years of legal setbacks and ballooning costs. Though the pipeline is 90% complete, permitting delays have pushed it four years behind schedule and costs have nearly doubled to $6.2 billion from $3.5 billion.

The permit granted Tuesday by the Virginia State Water Control Board allows the pipeline to cross under dozens of streams in the state, and was a ...