EQT in talks to sell some or all of its MVP capacity
Monday, November 2, 2020
EQT is in discussions with up to five different unnamed parties to sell some or all of its contracted capacity in the 303-mile Mountain Valley Pipeline that is expected to begin service next year, according to Kallanish Energy.
EQT CFO David Khani made the announcement last week in an earnings call with analysts and the media.
A deal or deals is dependent on the pipeline being in service and “the viability of executing a transaction continues to improve,” Khani said.
Khani indicated that some interested parties were previously involved in the Atlantic Coast natural gas pipeline that abandoned last July. The companies involved on that pipeline project were Dominion Energy, Duke Energy, Piedmont Natural Gas and Southern Company Gas.
Learn more: Kallanish Energy > EQT in talks to sell its MVP capacity
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.