EQT Corporation has signed a 10-year agreement to supply 325,000 Dekatherm (Dth) of natural gas per day to the future CPV Shay Energy Center in Doddridge County, West Virginia, set to begin operations in 2031. This contract ties its pricing to PJM power markets, potentially yielding better returns compared to conventional gas indexes.
EQT is also pursuing more than 45 projects in the Appalachian region, anticipating nearly 20 billion cubic feet (Bcf) of potential gas demand related to power generation and data centers. Additionally, the company has secured a five-year LNG offtake agreement for 0.5 million tonnes per annum starting in 2028, projected to enhance its cash flow by approximately $45 million at recent prices.
Despite these moves to capture emerging demand, EQT faces challenges, including permitting and financing hurdles, which may delay expected benefits. Current market conditions reflect caution, as the company holds a Zacks Rank #4 (Sell) with revised earnings estimates for 2026 and 2027.
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