On June 3, 2023, the President of the United States signed legislation that raises the Nation's debt limit and ratifies and approves all permits and authorizations necessary for the construction and initial operation of the Mountain Valley Pipeline (MVP) and directs the applicable federal officials and agencies to maintain such authorizations. Further, and not later than June 24, 2023, the legislation requires the Secretary of the Army to issue all permits or verifications necessary to complete project construction and allow for MVP's operation and maintenance. The legislation also divests courts of jurisdiction to review agency actions on approvals necessary for MVP construction and initial operation. Given the legislation, and assuming the timely issuance of the few remaining authorizations, Equitrans Midstream, operator of the MVP, intends to work with its project partners to complete construction of the MVP project by year-end 2023, at an estimated total project cost of approximately $6.6 billion.
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