Dominion's Atlantic Coast Pipeline Delayed as Costs Rise $1.5 Billion From Original Estimates

Dominion Energy said on Friday that the estimated cost of its Atlantic Coast natural gas pipeline from West Virginia to North Carolina will rise from $7 billion to $7.5 billion in addition to announcing that the expected completion date will be delayed to early 2021.

The project was originally said to be completed by late 2019 and cost an estimated $6.0 billion to $6.5 billion.

“We remain highly confident in the successful and timely resolution of all outstanding permit issues as well as the ultimate completion of the entire project,” Dominion Chief Executive Thomas Farrell said an earnings release, adding that the company was “actively pursuing multiple paths to resolve all outstanding permit issues..”

Dominion said it expects construction on the full 600-mile route to resume during the third quarter of 2019, with partial in-service in late 2020.

Source:
Reuters