Market Overview

Mountain Valley Pipeline Responds to Stop Work Order

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Project Continues to Target a Q1 2019 In-Service

Mountain Valley Pipeline, LLC released the following statement and
background information in response to a project-wide stop work order
issued by the Federal Energy Regulatory Commission (FERC) issued on
August 3, 2018, related to the adequacy of permits issued by the U.S.
Forest Service (USFS) and Bureau of Land Management (BLM) granting a 3.5
mile right-of-way in the Jefferson National Forest (JNF) for the
Mountain Valley Pipeline (MVP) project. The right-of-way permits in
question affect only approximately 1% of MVP's overall 303-mile project
route.

As part of the order, the FERC stated, "There is no reason to believe
that the Forest Service or the Army Corps of Engineers, as the land
managing agencies, or the BLM, as the federal rights of grantor, will
not be able to comply with the Court's instructions and to ultimately
issue new right-of-way grants that satisfy the Court's requirements."

"We agree with the FERC that the USFS and BLM will be able to satisfy
the Fourth Circuit Court's requirements regarding their respective
decisions; and we believe that the two agencies will work quickly to
supplement their initial records. In addition, we are confident that the
BLM has reached the correct conclusion during their initial analysis of
alternatives in the JNF and agree that MVP's current route has the least
overall impact to the environment. MVP had previously halted operations
in the JNF, with exception of work needed to manage any unnecessary
environmental erosion and maintain slope stability. We will continue to
closely coordinate with all agencies to resolve these challenges as they
work to have the right-of-way grants reissued. While disappointed with
this recent setback, MVP is confident in the BLM's alternatives
analysis, as well as with the approvals received by state and federal
agencies; and we look forward to continuing the safe construction of
this important infrastructure project."

Previously, the Sierra Club and other opponents challenged the USFS and
BLM issuance of MVP's 3.5 mile right-of-way in the JNF. In a July 27,
2018 decision, the U.S. Fourth Circuit Court held that the USFS did not
fully explain its rationale on sedimentation impacts; and also held the
BLM did not address the impracticality of various alternative routes.
Additionally, however, the Court largely upheld compliance with the
National Environmental Policy Act (NEPA) by the USFS and BLM – rejecting
many of the Sierra Club's claims that challenged the agencies' NEPA
compliance.

As the USFS and BLM work to supplement and recast their initial filings
to be more inline with the Court's order, MVP is evaluating its
construction plan on a daily basis and continues to target a first
quarter 2019 in-service date. MVP will provide updates as the regulatory
process progresses.

About Mountain Valley Pipeline

The Mountain Valley Pipeline (MVP) is a proposed underground, interstate
natural gas pipeline system that spans approximately 303 miles from
northwestern West Virginia to southern Virginia. Subject to approval and
regulatory oversight by the Federal Energy Regulatory Commission, the
MVP will be constructed and owned by Mountain Valley Pipeline, LLC – a
joint venture of EQT Midstream Partners, LP; NextEra US Gas Assets,
LLC; Con Edison Transmission, Inc.; WGL Midstream; and RGC Midstream,
LLC. The MVP was designed to transport clean-burning natural gas from
the prolific Marcellus and Utica shale regions to the growing demand
markets in the Mid-Atlantic and Southeast areas of the United States.
Targeting a full in-service during the first quarter of 2019, EQT
Midstream Partners (NYSE:EQM), primary interest owner, will operate the
pipeline. From planning and development, to construction and in-service
operation – MVP is dedicated to the safety of its communities,
employees, and contractors; and to the preservation and protection of
the environment.

Visit www.mountainvalleypipeline.info

Cautionary Statements

Disclosures in this news release contain certain forward-looking
statements that do not relate strictly to historical or current facts
and are forward-looking. Without limiting the generality of the
foregoing, forward-looking statements contained in this news release
specifically include the expectations of plans, strategies, objectives
and growth, and anticipated financial and operational performance of
Mountain Valley Pipeline, LLC, including guidance regarding the proposed
Mountain Valley Pipeline (MVP), such as the expected impact of the
FERC's stop work order on the MVP and the Fourth Circuit Court of
Appeals' stay of the Huntington District stream and wetland crossing
permit; the cost, timing and outcome of regulatory approvals and
anticipated in-service date of the MVP; any engineering, construction
and operational changes to the MVP project; the projected length of the
MVP; and the timing of development and construction for the MVP. The
forward-looking statements included in this news release are subject to
risks and uncertainties that could cause actual results to differ
materially from projected results. Accordingly, investors should not
place undue reliance on forward-looking statements as a prediction of
actual results. Mountain Valley Pipeline, LLC has based these
forward-looking statements on current expectations and assumptions about
future events. While Mountain Valley Pipeline, LLC considers these
expectations and assumptions to be reasonable, they are inherently
subject to significant business, economic, competitive, regulatory, and
other risks and uncertainties, most of which are difficult to predict
and are beyond its control. The risks and uncertainties that may affect
the operations, performance, and results of Mountain Valley Pipeline,
LLC and forward-looking statements include, but are not limited to:

The business, financial condition, results of operations and prospects
could suffer if Mountain Valley Pipeline, LLC does not proceed with
projects under development or is unable to complete the construction of,
or capital improvements to, its facilities on schedule or within budget.

The ability to complete construction of, and capital improvements to,
facilities on schedule and within budget may be adversely affected by
escalating costs for materials and labor and regulatory compliance,
inability to obtain or renew necessary licenses, rights-of-way, permits
or other approvals on acceptable terms or on schedule, disputes
involving contractors, labor organizations, land owners, governmental
entities, environmental groups, Native American and aboriginal groups,
and other third parties, negative publicity, transmission
interconnection issues, and other factors. If any development project or
construction or capital improvement project is not completed, is delayed
or is subject to cost overruns, certain associated costs may not be
approved for recovery or recoverable through regulatory mechanisms that
may otherwise be available, and Mountain Valley Pipeline, LLC could
become obligated to make delay or termination payments or become
obligated for other damages under contracts, could experience the loss
of tax credits or tax incentives, or delayed or diminished returns, and
could be required to write-off all or a portion of its investment in the
project. Any of these events could have a material adverse effect on
Mountain Valley Pipeline, LLC's business, financial condition, results
of operations and prospects. Mountain Valley Pipeline, LLC may face
risks related to project siting, financing, construction, permitting,
governmental approvals and the negotiation of project development
agreements that may impede its development and operating activities.

Mountain Valley Pipeline, LLC must periodically apply for licenses and
permits from various local, state, federal and other regulatory
authorities and abide by their respective conditions. Should Mountain
Valley Pipeline, LLC be unsuccessful in obtaining necessary licenses or
permits on acceptable terms, should there be a delay in obtaining or
renewing necessary licenses or permits or should regulatory authorities
initiate any associated investigations or enforcement actions or impose
related penalties or disallowances on Mountain Valley Pipeline, LLC,
Mountain Valley Pipeline, LLC's business, financial condition, results
of operations and prospects could be materially adversely affected. Any
failure to negotiate successful project development agreements for new
facilities with third parties could have similar results.

Mountain Valley Pipeline, LLC's gas infrastructure facilities and other
facilities are subject to many operational risks. Operational risks
could result in, among other things, lost revenues due to prolonged
outages, increased expenses due to monetary penalties or fines for
compliance failures, liability to third parties for property and
personal injury damage, a failure to perform under applicable sales
agreements and associated loss of revenues from terminated agreements or
liability for liquidated damages under continuing agreements. The
consequences of these risks could have a material adverse effect on
Mountain Valley Pipeline, LLC's business, financial condition, results
of operations and prospects.

Uncertainties and risks inherent in operating and maintaining Mountain
Valley Pipeline, LLC's facilities include, but are not limited to, risks
associated with facility start-up operations, such as whether the
facilities will achieve projected operating performance on schedule and
otherwise as planned.

Mountain Valley Pipeline, LLC's business, financial condition, results
of operations and prospects can be materially adversely affected by
weather conditions, including, but not limited to, the impact of severe
weather.

Threats of terrorism and catastrophic events that could result from
terrorism, cyber-attacks, or individuals and/or groups attempting to
disrupt Mountain Valley Pipeline, LLC's business, or the businesses of
third parties, may materially adversely affect Mountain Valley Pipeline,
LLC's business, financial condition, results of operations and prospects.

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