RMR features the latest high-point news to keep you to up to date with midstream activities happening in the basins and shale plays that matter to you most.
Mountain Valley Gets Its Groove Back
The beleaguered Mountain Valley Pipeline (MVP) has won FERC approval to lay a section of natural gas pipe under the Roanoke River in the southwest portion of Va. Construction has been halted since last Fall. The final leg of this project is expected to take 90 days, although plans are under discussion to extend the once-completed 303-mile pipeline south into N.C. The $5.5 billion MVP, which stands 90% complete, will flow 2 BCFD of natural gas sourced from the Marcellus and Utica basins to southern Va., and—pending additional legal challenges—is expected to go online by year end. Mountain Valley Pipeline is a joint venture of Equitrans Midstream, NextEra, Con Edison Transmission, WGL Midstream and RGC Midstream.
Investment Firm Glenfarne Snatches Up Magnolia LNG
Sweet Magnolia, you’ve changed hands so many times in such short order it’s hard to keep up. Just when you thought the Magnolia LNG export project in Brownsville, Texas, was well on its way to becoming a reality under the new ownership of La., landowner, investor and energy attorney Bill Blanchet, his Global Energy Megatrend (GEM), and Louisiana Natural Gas Exports—whoops! Not so fast, cowboy. The project has changed hands yet again.
N.Y.-based investment firm Glenfarne has now purchased Magnolia and its patented LNG processing technology for $2 million with every intention to bring the project to a final investment decision, break dirt and get on with the business of LNG processing and exports. Under Glenfarne, the Magnolia LNG export project will be rebranded Magnolia LNG Holdings. The firm’s Alder Midstream portfolio company holds a majority ownership of the also-proposed $3.5 billion Texas LNG Brownsville export terminal.
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