Gabe Moreen

Gabe Moreen inquired about the necessity of the next potential LEAP expansion, asking if recently completed egress projects, including LEAP Phase 4, are sufficient for the current round of LNG projects, or if more gas capacity is needed. He also questioned if inorganic growth, such as consolidating gathering systems, might be required to drive sufficient volumes for another LEAP expansion. Additionally, he asked about the implications of the upsized Mountain Valley Pipeline (MVP) expansion for the Stonewall expansion project.

Answer

President and CEO David Slater confirmed that more egress capacity is required to the Gulf Coast beyond existing projects, expecting current systems to fill quickly, and stated DT Midstream is proactively expanding connectivity to future load centers. He did not directly address inorganic growth for LEAP but emphasized winning their fair share of the large growth area. For Stonewall, Slater viewed the upsized MVP expansion as a very positive fundamental event, positioning Stonewall as a strategic independent supply source for Mountain Valley shippers.

Gabe Moreen asked about the need for further LEAP expansions given recent egress project completions, if inorganic growth (consolidation of gathering systems) is needed to drive volumes for another expansion, and the implications of the MVP (Mountain Valley Pipeline) expansion for the Stonewall expansion.

Answer

David Slater (President and CEO, DT Midstream) asserted that more egress capacity is needed to the Gulf Coast beyond current projects, as existing systems will fill quickly, and DTM is pre-positioning for future load. He viewed the MVP expansion as a very positive fundamental event for the Stonewall expansion, positioning Stonewall as a strategic, independent supply source and valuable outlet for Mountain Valley shippers.