EQT’s $77 million purchase of Blackline Midstream gives the Appalachian producer direct control of New England’s largest bulk-propane storage network. Blackline operates 46 million gallons of propane storage across its Sea-3 terminals (arguably the best-named facilities in the business) in Newington, New Hampshire (pictured below) and Providence, Rhode Island. EQT already supplies about 60% of Blackline’s volumes, so the deal is less about entering a new business, than securing storage, rail and marine access for associated natural gas liquids.
Newington, NH Sea-3 Terminal Source: Blackline Midstream
The acquisition comes at a time where existing East Coast NGL terminals are being expanded for Appalachian gas producers. Range Resources announced on February 25, 2025, that it had secured 20 Mb/d of NGL takeaway and export capacity to a new, unnamed East Coast terminal. Coincidentally, two days later FTAI Infrastructure announced that its Repauno LPG terminal had signed a second long-term contract for the terminal’s 24 Mb/d Phase 2 expansion, bringing total LPG export capacity to 96 Mb/d and is expected to enter service early 2027. The expansion includes new loading arms at an existing deep-water dock and a new above-ground cryogenic storage tank. Also on the East Coast, Energy Transfer is currently constructing an expansion to Marcus Hook, which includes a 900-Mbbl refrigerated ethane tank and 20 Mb/d of incremental ethane export capacity, targeted for service in Q3 2027. Together, the Blackline acquisition, the Repauno and Marcus Hook expansions, point to a growing trend of a more liquids-rich Appalachia.
