EQT, a US-based natural gas producer, has announced a midstream JV with Blackstone Credit & Insurance (BXCI), a unit of investment major Blackstone. The JV includes EQT's interests in key infrastructure assets such as the Mountain Valley Pipeline (MVP), transmission and storage facilities, as well as the Hammerhead Pipeline.

EQT Corp. will receive $3.3 billion to form a joint venture that will hold the ownership of the Mountain Valley Pipeline and other assets it got from the recent acquisition of Equitrans Midstream Corp.

EQT shares rose after the natural gas producer said Blackstone’s credit and insurance business is buying a $3.5 billion stake in its midstream assets through a joint venture.

EQT Corp. (NYSE:EQT) +3.7% pre-market Monday after saying asset manager Blackstone (BX) agreed to acquire non-controlling equity interests in some of its natural gas pipelines for $3.5B in cash. EQT (EQT) and Blackstone (BX) will form a new midstream joint venture consisting of EQT's ownership interest in the Mountain Valley pipeline,

EQT announces a $3.5B midstream joint venture with Blackstone to boost growth, enhance infrastructure assets and reduce debt, with a target of $9B in net debt by the end of the year.

EQT Corporation has announced that it has entered into a definitive agreement with funds managed by Blackstone Credit & Insurance (BXCI), to form a new midstream joint venture consisting of EQT's ownership interest in high quality contracted infrastructure assets: (i) Mountain Valley Pipeline,

EQT Corporation (NYSE: EQT) announced today that it has entered into a definitive agreement with funds managed by Blackstone Credit & Insurance ("BXCI"), to form a new midstream joint venture (the "JV") consisting of EQT's ownership interest in high quality contracted infrastructure assets: (i) Mountain Valley Pipeline,