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.
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