EQT Corp. and joint venture partner NextEra Energy Inc. are moving forward with their proposed 330-mile Mountain Valley Pipeline, announcing they’ll hold a binding open season for its transmission capacity.
The move follows the close of a non-binding open season, which concluded in July. The binding season is to end Sept. 29.
In a news release, EQT (NYSE: EQT) said it has received firm capacity commitments of 1.5 billion cubic feet per day. As envisioned, the line would provide at least 2 billion cubic feet of transmission capacity
“As we move into a binding open season, securing the 1.5 billion cubic feet per day of firm capacity confirms we have an economically viable project,” said Randall Crawford, EQT Midstream Partners (NYSE: EQM) COO in a statement.
“Marcellus and Utica producers will have cost-effective access to the growing demand for natural gas for use by local distribution companies, manufacturers, and power generation facilities,” he said.