EQTs 20-Year LNG Pact Secures 15M TPA as $260M Trade Ranks 416th in Market Volume

On September 4, 2025, EQT Corporation (EQT) rose 0.48% with a trading volume of $260 million, ranking 416th in total trading value. The stock’s modest gain coincided with the announcement of a landmark 20-year liquefied natural gas (LNG) agreement with NextDecade Corporation. Under the deal, EQT will secure 1.5 million tonnes per annum of LNG from Rio Grande LNG Train 5, priced on a free-on-board basis indexed to Henry Hub. The agreement hinges on NextDecade’s final investment decision (FID) for Train 5, expected by Q4 2025. EQT’s CEO emphasized the transaction as a strategic move to diversify into global gas markets, leveraging the company’s low-cost structure, scale, and sustainability profile to strengthen its position as a preferred international supplier.

The deal aligns with EQT’s broader LNG expansion strategy, which aims to capitalize on growing demand for U.S. natural gas exports. By marketing and optimizing its own cargoes, EQT retains flexibility in structuring sales while mitigating downside risks. NextDecade, in turn, highlighted the agreement’s role in enhancing global energy security. The Rio Grande LNG project, with an estimated $6.7 billion in total costs for Train 5 and related infrastructure, requires additional 1 mtpa sales to secure favorable financing and FID. EQT’s existing LNG commitments, combined with this new contract, underscore its focus on long-term earnings growth through international market exposure.

The transaction does not include forward-looking financial projections but reflects EQT’s confidence in its operational strengths. Analysts have previously highlighted the company’s competitive advantages, including its dominant Appalachian Basin position and investment-grade balance sheet. While the LNG market faces uncertainties, including commodity price volatility and regulatory risks, EQT’s strategic partnerships and capacity to scale exports position it to benefit from global energy transition trends. The deal’s execution, pending FID, could reinforce investor sentiment as the company advances its global LNG portfolio.