EQT Targets Year-End Completion for MVP Southgate

EQT said it has secured all key regulatory approvals for the MVP Southgate project and is accelerating capital spending to complete construction by the end of 2026, while reporting second-quarter results.

(P&GJ) — EQT Corp. said it has secured all key regulatory approvals for the Mountain Valley Pipeline (MVP) Southgate project and will accelerate $85 million in capital contributions to support completion of the pipeline by the end of 2026. The update came as the company reported second-quarter financial results.

The company said the additional investment is intended to de-risk construction and keep the project on track for a year-end in-service target.

Separately, EQT signed a 10-year agreement to supply 325,000 Dth/d of natural gas to Competitive Power Ventures' Shay Energy Center in Doddridge County, W.Va., with pricing tied to PJM power markets. The company also executed a five-year LNG offtake agreement for 0.5 MMtpy beginning in 2028 and completed its $77 million acquisition of Blackline Midstream's propane storage and distribution terminals in New England.

Second-quarter production totaled 634 Bcfe, exceeding the company's guidance, while EQT raised its full-year production outlook and lowered expected capital spending.

CEO Toby Rice said the company's operational performance and regulatory progress position MVP Southgate for completion this year.

"Due to the sustained production outperformance resulting from our compression investments, we are raising 2026 production guidance by 90 Bcfe while lowering our full-year capital spending guidance by $25 million."