Integrated U.S. natural gas
EQT Corporation
EQT produces natural gas in the Appalachian Basin and sells it through integrated gathering and transmission infrastructure and long-term supply arrangements. It pays for NGL processing, LNG liquefaction and transportation capacity, and has operated upstream and midstream businesses together since acquiring Equitrans.
Business categories Oil & Gas Exploration and Production · Oil & Gas · primary
EQT Updated Sep 23, 2026 5 AI consumers· 2 recurring
Per the valuechain.wiki graph, EQT Corporation is directly linked to 3 companies (2 supply, 0 revenue, 1 investment relationships) and reaches 9 companies within two hops; the links are backed by 7 dated sources, 2 of them primary filings (as of 2026-09-23).
Financials & Segments
- Total revenue · FY2025 revenue of $8,644,211,000
- Segments · Upstream · Gathering · Transmission
Revenue from
- Homer City Redevelopment Medium confidence· supply volume 665,000 MMBtu/day · planned 2027-2028 ramp · Maximum daily natural gas supply under the Homer City Energy Campus agreement in principle
Homer City Redevelopment named EQT as its exclusive natural gas supply partner for a planned 4.4 GW power plant under an agreement in principle. The project targets up to 665,000 MMBtu per day, but definitive terms remain under negotiation.Confirms EN S&P Global Energy Published Jul 21, 2025: US producer EQT unlocks growth option with 1.4 Bcf/d in firm gas supply dealsConfirms EN Homer City Redevelopment Published Jul 15, 2025: Homer City Redevelopment Announces Agreement in Principle for EQT Corporation to Supply Natural Gas - Frontier Group of Companies Medium confidence· supply volume 800 MMcf/day · planned 2027-2028 ramp · Target daily natural gas supply under the Shippingport power station agreement in principle
Frontier Group's Shippingport power project is structured to buy about 800 MMcf per day of natural gas from EQT. The parties are targeting a 20-year supply arrangement under an agreement in principle, so execution and final terms remain outstanding.Confirms EN S&P Global Energy Published Jul 21, 2025: US producer EQT unlocks growth option with 1.4 Bcf/d in firm gas supply deals
Pays to
- Sempra High confidence· Count 2 Mtpa · Port Arthur LNG Phase 2 20-year SPA · EQT annual offtake volume from Port Arthur LNG Phase 2
EQT Corporation will purchase 2 Mtpa from Port Arthur LNG Phase 2 for 20 years under a free-on-board contract indexed to Henry Hub.Confirms EN Sempra Infrastructure Published Aug 27, 2025: Sempra Infrastructure and EQT Announce Long-Term LNG Supply Agreement from Port Arthur LNG Phase 2 - Williams Companies High confidence
EQT contracts with Williams subsidiary Williams Ohio Valley Midstream to process produced gas and extract NGL streams such as ethane and propane. Counterparty-specific processing fees are not disclosed. - MarkWest Energy Partners, L.P. High confidence
EQT contracts with MarkWest Energy Partners for NGL processing and extraction from its produced gas. Counterparty-specific processing fees are not disclosed.
Investors
- Blackstone High confidence· Amount $3.5B · investment completed 2024-12-30 · Cash contribution by a Blackstone Credit & Insurance affiliate to the PipeBox midstream joint venture
An affiliate of Blackstone Credit & Insurance contributed $3.5 billion in cash to EQT's PipeBox midstream joint venture in December 2024 and received a noncontrolling interest. EQT retained voting control and continued to consolidate the venture.
Investments
- Equitrans Midstream Corporation High confidence· Amount $5.5B · acquisition completed 2024-07-22 · Disclosed value of EQT common-stock consideration for the Equitrans Midstream acquisition
EQT completed its acquisition of Equitrans Midstream in July 2024, bringing gathering, transmission, storage and an interest in Mountain Valley Pipeline into the company. The disclosed value of the stock consideration was approximately $5.5 billion.Mentions KO Kiwoom Securities Research Center Published Jun 27, 2025: EQT: Natural Gas Demand Catalyst Remains Intact
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '20 | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|---|
| EQT Corporation | node | · | +71.6 | +57.6 | +16.2 | +21.4 | +17.6 | -0.6 |
| Williams Companies | benef1 | · | +38.4 | +32.8 | +11.9 | +62.3 | +14.9 | +25.2 |
| Sempra | benef1 | · | +7.4 | +20.3 | -0.1 | +21.1 | +3.9 | -3.5 |
| Blackstone | benef1 | · | +107.1 | -40 | +82.7 | +35.1 | -7.8 | -23.5 |
| Moderna | benef2 | · | +143.1 | -29.3 | -44.6 | -58.2 | -29.1 | +393.6 |
| CoreWeave | benef2 | · | · | · | · | · | · | +14.6 |
| PPL Corporation | benef2 | · | +12.9 | +0.4 | -3.8 | +24 | +11.4 | +1.8 |
| Medtronic plc | benef2 | · | -9.8 | -22.6 | +9.6 | +0.3 | +24 | -0.3 |
| KKR & Co. | benef2 | · | +85.8 | -37 | +80.5 | +79.6 | -13.3 | -15 |
| Alnylam Pharmaceuticals | benef2 | +0 | +30.5 | +40.1 | -19.5 | +22.9 | +69 | -41.5 |
YTD as of 2026-10-09 · source: Yahoo Finance
EQT Corporation operates across Integrated U.S. natural gas. It stayed steadily positive in recent years and is +3.8% in 2026. The stock (+3.8%) and its supply side (avg +10.9%) are moving in step. Among connected nodes the furthest ahead is Williams Companies (+25.2%) and the furthest behind is Sempra (-3.5%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It pays for NGL processing, LNG liquefaction and transportation capacity, and has operated upstream and midstream businesses together since acquiring Equitrans.
Analysis generated from returns as of 2026-09-04← All companiesMarkdown · JSON · Customers · Suppliers · Ripple