Back to top

EQT Midstream to Expand Mountain Valley Pipeline to South

Read MoreHide Full Article

EQT Midstream Partners, LP (EQM - Free Report) has recently revealed its intention to build a natural gas pipeline to connect Virginia and North Carolina. The interstate MVP Southgate pipeline project is backed by shipping commitment from SCANA Corporation's (SCG - Free Report) subsidiary PSNC Energy.

Project Details

The MVP Southgate pipeline is actually an extension of the $3.5 billion main Mountain Valley Pipeline, operated by EQT Midstream and partnered by NextEra Energy, Inc. (NEE - Free Report) , Consolidated Edison, Inc., WGL Holdings, Inc. (WGL - Free Report) and RGC Resources, Inc. The proposed extension will ship gas from the Pittsylvania County, VA-located main pipeline to around 70 miles south Rockingham and Alamance Counties, NC. EQT Midstream expects the project to come online by the fourth quarter of 2020.

A binding open season for the extension has also been announced on Apr 11, which will last one month and close on May 11 to recognize additional shipping participants in the market.

Importance

The new project is expected to provide shippers from the Marcellus and Utica shale in the prolific Appalachian Basin to reach PSNC Energy and southern Virginia and central North Carolina markets. With increasing shale activities and rising demand for cleaner energy sources, the pipeline is expected to face high demand as it will provide its clients with supply diversity.

Price Performance and Zacks Rank

Pittsburgh, PA-based EQT Midstream has lost 18.3% in the past year compared with 22.8% decline of its industry. The partnership has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

 

Investor Alert: Breakthroughs Pending

A medical advance is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating substantial revenue, and even more wondrous products are in the pipeline.

Cures for a variety of deadly diseases are in sight, and so are big potential profits for early investors. Zacks names 5 stocks to buy now.

Click here to see them >>



More from Zacks Analyst Blog

You May Like