Published: July 29, 2022 |

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U.S. energy company EQT Corp’s discussions with liquefied natural gas (LNG) companies are continuing, the CEO of the biggest natural gas producer in the United States told analysts on an earnings call on Thursday.

EQT has long advocated that the United States export more LNG to the world to help other countries meet their growing energy needs and reduce emissions by shutting coal-fired power plants.

“We continue to have discussions with LNG end users across various geographies,” EQT CEO Toby Rice said.

The company was especially interested in LNG opportunities along the East Coast, Rice said.

“Right now, we probably have an opportunity to lock in contracts ... with probably about three or four different facilities. These facilities need gas supply,” EQT CFO David Khani said on the call.

Rice said EQT already transports about one billion cubic feet per day of gas to the Gulf Coast, where most existing U.S. LNG export plants are located.

Finding East Coast LNG opportunities is especially important for a producer like EQT because pipeline capacity in Appalachia, where EQT produces gas, was already near capacity and not expected to grow much in coming years.

“We’ve finally reached the limit of the midstream takeaway capacity in Appalachia,” Rice said.

“We’ve got the biggest natural gas field in the world, and we cannot use that to help lower energy prices for Americans ... because we don’t have pipelines. They’ve been blocked, canceled and opposed over the last 10 years,” Rice said.

EQT said it expects the long-delayed Mountain Valley pipeline from West Virginia to Virginia, the last big gas pipe under construction from Appalachia, to enter service in the fourth quarter of 2023.

Source: Reuters

About EQT
EQT Corporation is a leading independent natural gas production company with operations focused in the cores of the Marcellus and Utica Shales in the Appalachian Basin. They are dedicated to responsibly developing their world-class asset base and being the operator of choice for their stakeholders. By leveraging a culture that prioritizes operational efficiency, technology and sustainability, they seek to continuously improve the way they produce environmentally responsible, reliable, and low-cost energy. EQT has a longstanding commitment to the safety of its employees, contractors, and communities, and to the reduction of its overall environmental footprint.

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