As a standalone publicly traded company with a premier asset footprint in the Appalachian Basin, Equitrans Midstream Corporation will have enhanced potential for customer base expansion and organic growth, while providing producers with several options to liquidate their product and enhance netback prices.
The start-up of Equitrans Midstream Corporation
On February 21, 2018, EQT Corporation (EQT) announced plans to separate its separately managed gathering, transmission and storage, and water services operations (Midstream Business) from its natural gas, oil and natural gas liquids development, production and sales and commercial operations (Upstream Business). The separation of the Midstream Business from the Upstream Business will culminate in the spinoff from EQT of a new company named Equitrans Midstream Corporation. Equitrans Midstream will trade on the NYSE under the ticker symbol ETRN.
The separation of the two companies is intended to provide shareholders with equity ownership in two, separate, publicly traded companies that will be able to focus exclusively on each of their respective businesses.
Structure and ownership of Equitrans Midstream
EQM owns, operates, acquires and develops natural gas gathering, transmission and storage, and water services assets in the Appalachian Basin. Additionally, EQGP holds an approximate 1.2% general partner interest, an approximate 17.9% limited partner interest and all of the incentive distribution rights in EQM.
Benefits of the separation
Equitrans Midstream & Affiliated Partner Facts
BCF of Natural Gas transported daily
Number of miles of FERC-regulated interstate pipelines operated by Equitrans Midstream
Number of miles of high- and low-pressure gathering lines operated by Equitrans Midstream
Through its investment in EQM Midstream Partners, LP (EQM), Equitrans Midstream provides midstream services to EQT Corporation and multiple third-parties in Pennsylvania, West Virginia, and Ohio through its three primary assets: the gathering system, the transmission and storage system, and its water services assets.Equitrans Midstream Corporation is the third largest natural gas gatherer in the United States.
Equitrans Midstream’s infrastructure is strategically positioned to debottleneck the Appalachian Basin, optimizing delivery of this crucial resource to meet the nation’s demand for clean energy, while prioritizing a commitment to safety and enriching the communities where its employees live and work.