(MENAFN) Pennsylvania-based natural gas company EQT Corp unveiled plans to give up its Sunrise pipeline unit to EQT Midstream Partners LP for USD507.5 million in cash and USD32.5 million of common and general partners units, Reuters reported.
Sunrise Pipeline LLC's assets include a 41.5-mile pipeline between West Virginia and Pennsylvania, a compressor station and an interconnect with the Texas Eastern pipeline in Greene County, Ohio.
EQT Midstream said it will pay an additional USD110 million subject to conditions related to a transportation agreement.
EQT Midstream, controlled by EQT Corp, provides transportation and storage services to EQT,
as well as to other companies.
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