Click on this to sign the petition to cancel the Mountain Valley Pipeline:
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Who Really Owns the Mountain Valley Pipeline?
Ultimately the shareholders of the parent companies for the subsidiaries are the owners of the Mountain Valley Pipeline. They are the ones who will suffer from this boondoggle.
When Dominion canceled the Atlantic Coast Pipeline in July 2020, Dominion followed up by reducing dividends by a third to their shareholders in the last quarter of 2020. At least Dominion stopped throwing good money into a failing project and canceled it before it got worse.
Most shareholders invest in utility companies as a conservative investment to help their communities and to plan for their retirements. They don't expect their money to be used as venture capital in an ill-conceived and negligently executed multi-billion dollar failure. MVP's partners must stop wasting their shareholders equity by immediately canceling the MVP project.
Read the recent IEEFA's report Mountain Valley Pipeline faces uphill struggle to financial viability and Global Energy Monitor 2021 Pipeline Bubble Tracking Oil and Gas Pipelines report explaining how pipelines are on track to become $1 trillion of stranded assets.
The companies behind the MVP
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The subsidiary responsible for owning the Mountain Valley Pipeline is EQM Midstream Partners. Currently they own 48% of the MVP.
The subsidiary responsible for owning the Mountain Valley Pipeline is NextEra US Gas Assets. Currently they own 31% of the MVP.
The subsidiary responsible for owning the Mountain Valley Pipeline is Con Edison Gas Pipeline and Storage . Currently they own 10% of the MVP.
The subsidiary responsible for owning the Mountain Valley Pipeline is WGL Midstream. Currently they own 10%.of the MVP.
The subsidiary responsible for owning the Mountain Valley Pipeline is RGC Midstream. Currently they own 1%.of the MVP.