Mountain Valley Pipeline LLC, a joint venture between affiliates of EQT Corp. (NYSE: EQT) and NextEra Energy Inc. (NYSE: NEE), reports that, through its current open season, it has secured 2 Bcf per day of firm capacity commitments at 20-year terms for the Mountain Valley Pipeline project. In order to accommodate continued shipper interest, the binding open season was extended until Oct.10.
EQT, through one or more of its affiliates, including EQT Midstream Partners LP (NYSE: EQM), will operate the pipeline and own a majority interest in the joint venture.
With its connection to the existing Equitrans system in West Virginia, the Mountain Valley Pipeline (MVP) will deliver natural gas supply from vast resources located in the Marcellus and Utica shale development areas to the Transco Zone 5 compressor station 165 in Virginia. The 300-mile pipeline will address producers’ growing infrastructure constraints, while more importantly offering critical supply diversity to meet the increasing demand for natural gas in the Mid-Atlantic and Southeast markets.