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EQT sees information centers and coal retirements driving gas demand

EQT Corp predicted information centers and coal plant decommissioning might increase natural gas need by up to 10 billion cubic feet daily by 2030, the Appalachian basin-based natural gas producer said on a post-earnings conference call on Wednesday.

Shares of the business were up more than 2% in afternoon trading, buoyed by an uptick in crude prices.

This demand will be regional, with majority likely to come from the Southeast in the PJM markets, EQT's CFO Jeremy Knop said. PJM Affiliation, the biggest U.S. electrical grid operator, covers parts of 13 states, including Pennsylvania, Kentucky, and West Virginia.

( As) the only large-scale integrated natural gas manufacturer with direct exposure in the region, we stand ready to support and directly benefit from this megatrend, Knop added.

EQT, one of the country's greatest natural gas manufacturers, reported that it has restarted all formerly cut production. However, the business anticipates sales volumes to remain reasonably flat in 2025 compared to this year.

On Tuesday, the company beat Wall Street expectations for third-quarter revenue and announced the sale of non-operated natural gas properties in northeast Pennsylvania to the Norwegian state-owned Equinor.

(source: Reuters)