Appalachia’s leading natural gas producer EQT released its quarterly earnings report on April 22, trumpeting a bullish global LNG picture to justify its decision to enter into LNG supply contracts. However, company CFO Jeremy Knop recognized the low domestic prices currently, stating that they had “embedded 10 to 15 Bcf of curtailments into our second quarter production guidance” in response. The strategic curtailments are designed to help the firm “maximize value in both peak and trough demand seasons.” But while cash prices are low, the firm made the case for long-term bullishness. EQT anticipates 6 to 7 Bcf/d of in-basin demand growth by 2030, based on “a pickup in large-scale power, midstream, and data center projects.”
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