A major U.S. natural gas pipeline project that’s crucial for shale drillers in the Appalachians is now in doubt after a court rejected its permit to cross a national forest in the Virginias.
The U.S. Court of Appeals for the Fourth Circuit on Tuesday tossed the federal government’s approval for Equitrans Midstream Corp.’s $6.2 billion Mountain Valley Pipeline to go through Jefferson National Forest, sending the shares of the company slumping the most since March 2020.
