Home Climate change Mountain Valley Pipeline Investor Says “Very Low Probability of Pipeline Completion”

Mountain Valley Pipeline Investor Says “Very Low Probability of Pipeline Completion”

Cites "continued legal and regulatory challenges"

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See below for some excellent news, courtesy of the Sierra Club. Also note that NextEra Energy buried this on page 89 of an SEC filing; kinda odd.

Washington, DC — Today, NextEra Energy Inc. announced it is reevaluating its investment in the fracked gas Mountain Valley Pipeline after the 4th Circuit rejected two necessary approvalsThe project, which faces numerous hurdles, including several legal battles and the need to still obtain three major approvals from federal agencies, faces another pivotal moment as NextEra has stated in its annual report that the “continued legal and regulatory challenges have resulted in a very low probability of pipeline completion.”

In response, Sierra Club Senior Organizer Caroline Hansley, released the following statement:

“From the start, it’s been clear that this reckless project could not be built in a safe manner that complies with standards designed to protect our lands, water, and vulnerable species. Now, burying the news, investors are starting to see the writing on the wall and should end this dangerous and unnecessary project once and for all. This project is years behind schedule, billions over budget, and still lacking permits for hundreds of difficult waterbody crossings. Our communities and our environment deserve protection against this dirty fracked gas pipeline.”

About the Sierra Club

The Sierra Club is America’s largest and most influential grassroots environmental organization, with millions of members and supporters. In addition to protecting every person’s right to get outdoors and access the healing power of nature, the Sierra Club works to promote clean energy, safeguard the health of our communities, protect wildlife, and preserve our remaining wild places through grassroots activism, public education, lobbying, and legal action. For more information, visit www.sierraclub.org.

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