Delayed and Over Budget Fracked Gas Pipeline Faces 'Triple Threat,' New Briefing Warns Investors

Investors should strongly consider permanently ditching a delayed and over budget pipeline that would carry fracked gas across three Southeastern states, according to a new report from a pair of climate groups.

“The Atlantic Coast Pipeline was always a bad idea. But now it’s clearer than ever that it is a failure.”
—Lorne Stockman, Oil Change International

“The risks and growing costs of this major methane gas pipeline project look increasingly unwise to ratepayers, regulators, and investors alike,” warns the investor briefing (pdf).

The Atlantic Coast Pipeline (ACP) would carry fracked gas 600 miles from Appalachian Basin in West Virginia through Virginia to North Carolina. Dominion Energy, Duke Energy, and Southern Company make up Atlantic Coast Pipeline LLC, the company formed to construct and run the pipeline.

“The Atlantic Coast Pipeline is an environmental, climate, and human rights boondoggle,” said Donna Chavis, a campaigner with Friends of the Earth, which put out the briefing with Oil Change International on Monday, as Dominion investors were scheduled to meet.

“While news about the project’s challenges has mostly focused on the Forest Service permit and Appalachian Trail crossing, this report shows that the project’s problems do not stop there,” explained coauthor Lorne Stockman, a senior research analyst at Oil Change International.