Equitrans Is Being Acquired by EQT in Good Deal for Shareholders

After a multiyear battle with the courts and concerned stakeholders that had effectively blocked the Mountain Valley Pipeline, the Biden administration finally stepped in to save it. With legislation declaring the pipeline in the national interest and ordering the relevant agencies to issue the required permits by late June 2023, Equitrans now expects the pipeline to be in service in the second quarter of 2024. Equitrans expects to own 49% of the pipeline via a subsidiary as part of a joint venture and will be the operator once it is in service. With the pipeline derisked, EQT has stepped in to acquire Equitrans in an all-stock transaction due to close in the fourth quarter of 2024.