EQT Corp. and NextEra US Gas Assets LLC, an indirect, wholly owned subsidiary of NextEra Energy Inc., announced the formation of the Mountain Valley Pipeline LLC joint venture (JV), which will build and own the Mountain Valley Pipeline. The JV also announced the launch of a binding open season for the pipeline. EQT Corp., through one or more of its affiliates, will operate the pipeline and own a majority interest in the JV.

The Mountain Valley Pipeline is expected to have at least 2 billion cubic feet per day (Bcf/d) of transportation capacity to markets in the Mid- and South Atlantic regions. The pipeline has a planned length of about 330 miles. Subject to approval by the U.S. Federal Energy Regulatory Commission, the pipeline will connect the existing Equitrans transmission system in West Virginia to Transcontinental Gas Pipeline Co.’s Zone 5 compressor station 165 in Virginia. The JV has so far received firm capacity commitments totaling 1.5 Bcf/d. The pipeline is expected to enter service during fourth-quarter 2018.

The binding open season was filed by the JV. It is scheduled to end on Sept. 29, at which time the project’s final scope will be determined.