Equitrans 4Q Update: Still on Track to Complete MVP This Year
Yesterday Equitrans Midstream, formerly EQT Midstream, delivered its fourth quarter and full-year 2020 update. A key focus for the company is completing the 303-mile Mountain Valley Pipeline (MVP) project from Wetzel County, WV to Pittsylvania County, VA. Company officials yesterday expressed confidence they will get the balance of the 92% already-completed project done and fully online by the end of this year. That is terrific news indeed!
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Yesterday Equitrans Midstream issued its 4Q and full-year 2020 update (see today’s lead story). There was discussion during the Q&A portion of yesterday’s Equitrans conference call referring to the company’s recent request to the Federal Energy Regulatory Commission (FERC) to change the type of stream crossing process it can use at 120 locations to cross 181 water bodies and wetlands so it can complete the Mountain Valley Pipeline (MVP) project this year.
Our headline is a bit cryptic, so we’ll explain right up front that G&P stands for gathering and processing. In pipeline giant Williams’ latest update (covering 4th quarter and full-year 2020) company reps said the Northeast G&P unit “continues to come on very strong producing record results and contributing $29 million of additional EBITDA this quarter.” They also said Northeast (namely Marcellus) gathering volumes grew by 7% in 4Q, and processing volumes grew by 9%.
In 2016 Crestwood Equity Partners formed a joint venture with New York City’s largest utility company, Consolidated Edison Inc., to operate a critical link of pipelines and storage facilities in the heart of the Utica/Marcellus, called Stagecoach Gas Services (see 
You have to hand it to Pennsylvania State Sen. Gene Yaw, he sure knows how to set off the crazies in the Keystone State. Yesterday Yaw issued a fantastic op-ed saying if Gov. Wolf gets his bizarre Regional Greenhouse Gas Initiative (RGGI) carbon tax adopted, Pennsylvanians can look forward to power outages like those recently experienced in Texas, which happened in large part because of the failure of “renewable” energy sources like windmills. Yaw’s comments have the lefties yammering away to “correct” Yaw’s non-standard and non-approved speech.
All three M-U states received permits to drill new shale wells last week. Pennsylvania received 10 new permits. Ohio received 6 new permits. And West Virginia received 3 new permits.
MARCELLUS/UTICA REGION: Temps fall, but Western Pa. power plants, gas lines built to operate during big chills; OTHER U.S. REGIONS: Annapolis leaders admit activist group convinced city to file climate lawsuit; Uri scrambles Gulf Coast gas flows, briefly shuts off Texas LNG feedgas; Texas freeze raises cost of charging a Tesla to $900; California and Texas vie to be America’s hydrogen capital; NATIONAL: The battle over climate change is boiling over on the home front; Survey calls for second-ever US natural gas storage draw above 300 Bcf; GOP Senator grills Biden Interior nominee on O&G industry: Why not just let these workers keep their jobs?; INTERNATIONAL: Panama Canal weighing additional compensation for canceled LNG bookings.