Market Chatter: Oracle Urges Regulators to Speed Up Pipeline Approval for New Mexico Data Center

MT Newswires Live10-14 17:14

Oracle (ORCL) has once again called on federal authorities to approve a natural gas pipeline needed to power its data center project in New Mexico as soon as possible, Bloomberg News reported Tuesday, citing a letter from the company.

Further delay in the pipeline's approval will set back operations at Oracle's AI-focused data center campus Project Jupiter, along with the resulting jobs, economic activity and community benefits, Josh Pitcock, senior vice president of government affairs at the company, reportedly wrote in the letter to the Federal Energy Regulatory Commission.

The 17.8-mile gas pipeline project, which will be operated by a unit of Energy Transfer (ET), has been delayed following opposition from local regulators and advocacy groups, prompting Oracle to consider transporting gas by truck, according to Bloomberg.

Oracle and the FERC didn't immediately respond to MT Newswires' requests for comment.

In a statement Tuesday, Oracle said Project Jupiter is expected to generate more than $13 billion in economic impact in New Mexico during construction and the first 17 years of full operations.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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