"Energy Giant EQT's $35 Billion Megadeal: Acquiring Equitrans and Mountain Valley Pipeline Owner"

EQT Corp has agreed to buy back former unit Equitrans Midstream Corp for about $5.5 billion in stock, gaining control of the controversial Mountain Valley Pipeline project. The acquisition is expected to create annual cost savings of $250 million and help EQT cut its break-even point, reduce the need for hedging, and enhance its agility to cash in on increases in gas prices. The deal reflects a trend in the US fossil fuel sector favoring the vertical integration of upstream, midstream, and downstream assets, and is part of a series of recent transactions in the North American midstream industry.