EQT, NextEra to partner for natural gas pipeline to southeast markets

EQT Corp. (EQT +1.4%) and NextEra Energy (NEE +0.6%) say they are forming a joint venture to build a new 330-mile natural gas pipeline to connect the Marcellus and Utica shale supply to southeast U.S. markets.

The Mountain Valley pipeline will head from northern West Virginia to a point near the Virginia-North Carolina border, and will send along ~2B cf/day of natural gas when it comes online, probably in late 2018.

EQT will be the operator and majority owner of the project, which needs approval from the FERC.

EQM +0.6%.

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