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July 7th, 2020:

Contested $8B Natural Gas Pipeline Canceled

American Energy Coalition - July 7th, 2020

“The developers of the long-delayed, $8 billion Atlantic Coast Pipeline announced the cancellation of the multi-state natural gas project Sunday, citing uncertainties about costs, permitting and litigation,” according to a recent story by the Associated Press.

“Despite a victory last month at the United States Supreme Court over a critical permit, Dominion Energy and Duke Energy said in a news release that “recent developments have created an unacceptable layer of uncertainty and anticipated delays” for the 600-mile (965-kilometer) project designed to cross West Virginia and Virginia into North Carolina.”

“The companies said a recent pair of court rulings that have thrown into question a permitting program used around the nation to approve oil and gas pipelines and other utility work through wetlands and streams presented “new and serious challenges,” says the AP article.

“…The massive infrastructure project, announced with much fanfare in 2014, had drawn fierce opposition from many landowners, activists and environmental advocates, who said it would damage pristine landscapes and harm wildlife…”

“…Legal challenges brought by environmental groups prompted the dismissal or suspension of numerous permits and led to an extended delay in construction…,” writes the Associated Press.

“…Separately, Dominion, which is headquartered in Richmond, Virginia, and serves more than 7 million customers in 20 states, [said] it had agreed to sell “substantially all” of its gas transmission and storage segment assets to an affiliate of Berkshire Hathaway. The transaction was valued at $9.7 billion, the company said…”

To read the original Associated Press story, go to: https://apnews.com/5e4dec29b0da663e6243a71aea016940

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