$14.26 | -0.09 June 13, 2024 7:17 AM ET

MVP Southgate

In April 2018, the MVP Joint Venture announced the MVP Southgate project, which is a contemplated interstate pipeline that was approved by the United States Federal Energy Regulatory Commission (FERC) to extend approximately 75 miles from the MVP at Pittsylvania County, Virginia to new delivery points in Rockingham and Alamance Counties, North Carolina. The Company is expected to operate the MVP Southgate project and owned a 47.2% interest in the MVP Southgate project as of March 31, 2023.

In June 2020, the FERC issued the Certificate of Public Convenience and Necessity for the MVP Southgate; however, the FERC, while authorizing the project, directed the Office of Energy Projects not to issue a notice to proceed with construction until necessary federal permits are received for the MVP project and the Director of the Office of Energy Projects lifts the stop work order and authorizes the MVP Joint Venture to continue constructing the MVP project. The FERC conditioned its authorization on the MVP Southgate project being built and made available for service by June 18, 2023. The Company anticipates that an extension of such construction deadline would be sought from the FERC prior to such deadline. 

The MVP Joint Venture continues to evaluate the MVP Southgate project and is focused on its active negotiations with Dominion Energy North Carolina, and a prospective customer regarding refining the MVP Southgate project’s design, scope and/or timing for the benefit of such customers in lieu of pursuing the project as originally contemplated. The Company is unable to ensure the results of the negotiations between the MVP Joint Venture and Dominion Energy North Carolina and the other prospective customer including the ultimate design, scope, timing, undertaking or completion of the project.

For a detailed discussion on the MVP Southgate project, please see the Company’s most recent Quarterly Report on Form 10-Q

Visit the MVP Southgate project website.