The U.S. Federal Energy Regulatory Commission approved TC Energy's Virginia Reliability Project, a significant expansion that will enhance energy reliability and affordability in Virginia's Hampton Roads region.
The project has received strong support from local businesses, labor unions, and elected officials, and is expected to generate significant economic benefits for Virginia, including increased tax revenue and job creation.
According to a Reuters report published on Monday, November 20, the project is expected to generate over $500 million in economic value and create more than 3,500 jobs in the state.
"We are pleased to receive FERC's approval for the Virginia Reliability Project," said TC Energy President and CEO François Poirier, adding that the project was critical to ensuring a reliable and affordable natural gas supply for over 1.6 million people living in Hampton Roads region.
The Virginia Reliability Project will replace approximately 48 miles of existing 12-inch diameter pipeline with 24-inch diameter pipeline, utilizing state-of-the-art steel pipe and technology. This expansion will increase the pipeline's capacity and enhance its ability to meet growing energy demand in the region.
Construction on the project is expected to begin by the second quarter of 2024, with an in-service date projected for November 1, 2025.
TC Energy is committed to working closely with local communities and stakeholders throughout the construction process to minimize disruptions and ensure the project is completed safely and efficiently.
"The Virginia Reliability Project is a win-win for both the environment and the economy," said Poirier.
"By investing in cleaner natural gas infrastructure, we are helping to reduce greenhouse gas emissions and create jobs. We are proud to be a part of this important project that will benefit Virginians for years to come."