Thomas Kar on energy infrastructure
From Equitrans Midstream CEO: U.S. won't be able to meet future energy demand without permitting reform · · CNBC Television
“We expect full mobilization by early July. We have approval to complete the pipeline, and we're excited to get back to work.”
On , Thomas Kar, Executive Chairman at EQUITRANS MID CORP, spoke about energy infrastructure during Equitrans Midstream CEO: U.S. won't be able to meet future energy demand without permitting reform on CNBC Television.
About Thomas Kar
Thomas Karam, executive chairman of Equitrans Midstream, has spoken publicly about the company's efforts to complete the Mountain Valley Pipeline (MVP) and the broader need for permitting reform. In a September 2023 interview, Karam stated that the company expected full mobilization on the pipeline by early July after receiving approval to complete it, and he expressed gratitude that the project was included in the Fiscal Responsibility Act. He said that "it should not take an act of Congress to construct infrastructure in this country that's necessary for energy security and reliability." Karam credited Senator Joe Manchin and others for advancing the project, and described a letter from Energy Secretary Jennifer Granholm deeming the pipeline in the national security interest as a "watershed event." He argued that without comprehensive permitting reform, the U.S. would not be able to meet projected increases in natural gas and electricity demand over the next 25 years. In earlier comments from 2019, following Equitrans Midstream's spinoff from EQT Corporation, Karam expressed a bullish long-term view on natural gas prices and emphasized the company's reliance on long-term fixed contracts to reduce exposure to price fluctuations. He said the company's strategy was an "execution story" and that it did not require mergers and acquisitions to succeed, though it would evaluate opportunities. Karam also reaffirmed a 2019 target for completing the Mountain Valley Pipeline at a cost of $4.6 billion.