EQT Corporation, a company engaged in hydrocarbon exploration and pipeline transport, demerged Equitrans Midstream, a natural gas transmission company, in a $5.4bn deal. “When we announced the Rice Energy acquisition, we committed to addressing the sum-of-the-parts discount in our shares. The Rice transaction accelerated the maturation of both our businesses, provided scale that significantly enhanced the standalone prospects of both companies, and positioned us to further enhance value through separation. We are now the largest natural gas producer in the US — with a strong and strategic midstream system in the best natural gas basin in the country. We will complete the separation with urgency, consistent with our commitment to shareholders,” Steve Schlotterbeck, EQT’s president and chief executive officer.