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BRIEF-EQT Midstream acquires transmission, storage, gathering assets from EQT Corp
October 13, 2016 / 9:22 PM / a year ago

BRIEF-EQT Midstream acquires transmission, storage, gathering assets from EQT Corp

Oct 13 (Reuters) - Eqt Midstream Partners Lp

* EQT Midstream Partners acquires transmission, storage and gathering assets from EQT Corporation

* Deal for $275 million in cash

* EQT Midstream Partners- Acquisition was effective October 1, 2016 and is expected to be immediately accretive to EQM’s distributable cash flow per unit

* EQT Midstream Partners LP - Upon completion of expansion projects, EQT’s total firm capacity will increase to 365 mmcf per day

* EQT Midstream Partners LP - Gathering systems are expected to generate EBITDA of $16 million in 2017, increasing to $30 million in 2018

* EQT Midstream Partners LP - Allegheny Valley connector expected to generate EBITDA of $31 million in 2017, increasing to $35 million in 2018

* EQT Midstream Partners LP - EQM expects to invest approximately $50 million in avc related growth projects during remainder of 2016 and into 2017 Source text for Eikon: Further company coverage:

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