Equitrans, formerly EQT Midstream, separated from EQT in November 2018. Equitrans, via its EQM Midstream affiliate, gathers, processes, and flows most of EQT’s natural gas production, getting it to market. In February Equitrans announced it will absorb EQM, a limited partnership, into the fold (see Equitrans Merging in EQM Midstream, Lowers Fees for EQT $535M). The two entities have always operated as a single entity with the same management, but on paper they have different sets of investors and different corporate structures. As of today, the two will become one in the form of a “C” corporation.