Blackstone and EQT to form a joint venture in a $3.5bn deal.

Blackstone, an American multinational private equity firm, and EQT, an American energy company, agreed to form a joint venture in a $3.5bn deal. “This transaction underscores the ultra-high-quality nature of EQT’s regulated midstream assets, which service one of the strongest power demand growth regions in the United States underpinned by long-term contracts with the region’s leading utilities. Importantly, through this joint venture EQT preserves the benefits of the Equitrans acquisition by retaining the long-term value from synergy capture and growth projects. We look forward to working with Blackstone to optimize the value of these assets and together explore strategic opportunities across its leading portfolio of energy, power and digital infrastructure in the years ahead,” Toby Z. Rice, EQT President and CEO.