EQT Aims to Meet Record US Gas Demand with Lower Spending in 2026
EQT, the second-largest US natural gas producer, plans to increase production in 2026 while reducing spending compared to last year. CEO Toby Rice told Reuters that EQT will pull more gas out of the ground despite curtailed production in recent months due to low prices.
The company's ability to throttle production in line with market demands has allowed it to beat pricing expectations, according to Rice. He noted that EQT benefits from selling less gas during times of low prices and more when prices are high, resulting in a profit of around $200 million per year.
EQT is also expanding its pipelines, including the proposed POWER pipeline project, which will transport 1 bcfd of gas to power-hungry data centers. The company has signed a 10-year deal with Ignitis to supply about one LNG cargo per year to Lithuania.