EQT Strikes 10-Year Gas Deals with Duke, Southern to Fuel Power Sector Shift
EQT has signed two major natural gas supply agreements with Duke Energy and Southern Company, set to begin in 2027 and lasting a decade, according to Nasdaq.
The deals will provide a total of 1.2 billion cubic feet per day of gas—800 million to Duke and 400 million to Southern—solidifying a stable fuel source for utilities facing rising power demand from data centers and AI technologies, Nasdaq reported.
These long-term contracts will leverage EQT’s transport capacity on the Mountain Valley Pipeline, allowing it to move gas from Appalachia into higher-value southeastern markets. By shifting gas away from lower-priced hubs, EQT expects to improve its average selling price significantly.
Both Duke and Southern are expanding natural gas-fired generation as they move away from coal, with Duke alone planning 5 gigawatts of new gas capacity by 2029. EQT’s strategy to deal directly with end users like utilities signals a broader pivot away from volatile spot markets.
Related News
Related News
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Enbridge Plans 86-Mile Pipeline Expansion, Bringing 850 Workers to Northern B.C.
- Intensity, Rainbow Energy to Build 344-Mile Gas Pipeline Across North Dakota
- Tallgrass to Build New Permian-to-Rockies Pipeline, Targets 2028 Startup with 2.4 Bcf Capacity
- U.S. Moves to Block Enterprise Products’ Exports to China Over Security Risk
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- A Systematic Approach To Ensuring Pipeline Integrity
- 275-Mile Texas-to-Oklahoma Gas Pipeline Enters Open Season
- TC Energy’s North Baja Pipeline Expansion Brings Mexico Closer to LNG Exports
- Consumers Energy Begins 135-Mile Michigan Gas Pipeline Upgrade, Taps 600 Workers
Comments