Equitrans Midstream (NYSE:ETRN) +3.7% in Friday’s buying and selling after the Mountain Valley Pipeline cleared a problem Friday to a Federal Energy Regulatory Commission certificates, shifting the challenge ahead.
The U.S. Court of Appeals for the D.C. Circuit declined to vacate FERC’s authorization, turning again a petition lodged by a number of environmental teams.
The Fourth Circuit Court of Appeals not too long ago vacated the U.S. Army Corps of Engineers approval to construct the pipeline throughout water our bodies in West Virginia, however a three-judge panel on the D.C. Circuit mentioned the choice doesn’t preclude MVP from setting up the challenge.
The new D.C. Circuit ruling seems to reacquire MVP’s authorizations from the Bureau of Land Management, Forest Service, and Fish and Wildlife Service, which had been initially vacated by the Fourth Circuit.
The appellate panel mentioned the invalidation of a particular federal authorization doesn’t invalidate an authorization to assemble usually, “particularly if significant construction is already underway.”
The $6.2B pipeline is greater than 90% constructed, in keeping with the consortium led by Equitrans (ETRN), with companions NextEra Energy (NEE), Consolidated Edison (ED), AltaGas (OTCPK:ATGFF) and RGC Resources (RGCO).
More on Equitrans Midstream:
MoneyMaker FX EA Trading Robot
powered by qhost365.com