EQT may well devote in U.S. LNG facility to tap global marketplaces, CEO claims (NYSE:EQT)

CHUNYIP WONG/E+ via Getty Photographs

EQT Corp. (NYSE:EQT) said Thursday it might take an fairness stake in a liquefied organic gasoline export job, as it seeks to capitalize on the booming worldwide desire for LNG with Russian threats sending European gas costs swinging wildly.

“We are presently in conversations with LNG conclude-consumers across various geographies and are thinking about fairness investment decision alternatives in LNG export facilities,” CEO Toby Rice said in an earnings conference phone.

Current U.S. Henry Hub pure gas selling prices are elevated from historical stages, but sent LNG charges in Europe and Asia have surged ~3x larger than a 12 months back, and EQT would seek out to seize the potent margins concerning domestic feedgas and bigger spot selling prices for cargoes delivered to close-person markets.

“Our top prize that we are wanting for here at EQT is to get exposure to global marketplaces,” Rice said on the contact. “One particular of the strategies that we get extra adaptability in the direction of accessing people contracts is to take an expense in the LNG facility by itself.”

Longer-term offer agreements would make it possible for EQT to immediately gain from better gasoline selling prices abroad when lowering buyers’ exposure to intense volatility, the CEO mentioned.

EQT shares acquired 2.6% in Thursday’s investing just after the firm skipped Q1 earnings by a huge margin but raised whole-calendar year no cost cash move direction by 50%.