Blackstone & EQT Increase Ownership Stake in MVP Partnership
In July 2024, EQT Corporation closed on a $5.4 billion deal to buy back the midstream division it had spun off in 2018 (see Reunited: EQT Closes on Deal to Buy Equitrans Midstream for $5.4B). A few months later, EQT announced a deal to sell a substantial stake in its newly-acquired midstream assets (namely, Mountain Valley Pipeline) to investment firm Blackstone in return for $3.5 billion in cold, hard cash (see EQT Closes Midstream JV Deal with Blackstone for $3.5 Billion). EQT and Blackstone formed a midstream joint venture, PipeBox, which owns the investment. In March, the two lovebirds announced they were increasing their JV ownership in MVP from 49% to 53% at a cost of $201 million. Read More “Blackstone & EQT Increase Ownership Stake in MVP Partnership”
NATIONAL: U.S. natural gas futures fall in line with slump in oil; Coordinated climate superfund campaign continues to falter; Permitting reform is the energy policy Americans actually need; After all these years, alternatives are finding ways to stand on their own; INTERNATIONAL: Oil plunges on ceasefire deal; Sheinbaum proposes fracking plan as Mexico seeks to curb its reliance on US gas; Reform calls for ‘every last drop’ of oil and gas to be extracted in UK; Goldman warns of a ‘very painful’ natural gas shock that could rival the oil crisis; ExxonMobil, Shell report big hits from Iran conflict. 
The U.S. Energy Information Administration (EIA) issued its latest monthly Short-Term Energy Outlook (STEO) yesterday. The STEO is the agency’s monthly best estimate of where energy prices and production will head over the next 12 months. There was a revision to the agency’s prediction about the spot price (at the Henry Hub) for natural gas in 2026 and 2027. Just last month, EIA predicted the HH spot price would average $3.76 per million British thermal units (MMBtus) this year, and $3.85 next year (see 
The Trump administration’s proposed Fiscal Year 2027 budget would establish four Centers of Excellence at the National Energy Technology Laboratory (NETL), focusing on oil and natural gas, coal, critical minerals, and geothermal energy. Pittsburgh’s South Park facility will house the oil and gas center, while Morgantown, West Virginia, will host the coal center. NETL’s infrastructure funding will rise 2% to $58 million, but research operations will face an 8% cut to $80 million. Programs supporting coal-impacted communities and clean hydrogen hubs would be eliminated. Industry groups, including the Marcellus Shale Coalition and Pennsylvania Coal Alliance, praised the administration’s energy-focused direction. 
Caturus has reached major milestones in its “wellhead-to-water” strategy, finalizing customer offtake agreements (new customer signups) for its $12.5 billion, 9.5 MTPA Commonwealth LNG project in Louisiana. This commercialization milestone paves the way for imminent project financing and a final investment decision (FID) in the coming weeks. Key international partners, including EQT LNG Trading, Glencore, Mercuria, PETRONAS, and Aramco Trading Americas, have signed long-term Sale and Purchase Agreements. 
In Antero Resources Corp. v. Stonewall Gas Gathering LLC, the Texas Business Court resolved a contract dispute over a 2014 gas gathering agreement following a bench trial. The court denied Antero’s claims for $200 million in past and future monetary damages. However, it granted Antero “declaratory relief” and specific performance, ordering Stonewall to reduce Antero’s service fees in accordance with the affiliate agreements and to produce the requested contract documents. The court awarded Antero $1 in nominal damages for discovery breaches, while a ruling on attorney’s fees was deferred pending further proceedings. 
The Mountain Valley Pipeline (MVP), which began operations in 2024 through West Virginia and Virginia, is now slated for an extension, the MVP Southgate, into North Carolina. This expansion faces opposition from some residents and environmental groups who raise concerns about safety, environmental impact, eminent domain issues, and the need for increased natural gas infrastructure (they believe cataclysmic global warming comes from burning natural gas). Despite court challenges and past environmental violations, the project has received government approvals and is forging ahead. On March 23, the Federal Energy Regulatory Commission (FERC) issued a notice to proceed with construction in Virginia. 
National Grid New York is upgrading its 50-year-old Grasmere Gate Station on Staten Island, a critical piece of natural gas infrastructure serving approximately 80,000 customers. This two-phase project, which began in March 2025 and is expected to finish by June 2026, involves a complete rebuild of mechanical equipment and components to enhance safety, strengthen physical structure, and improve efficiency. The work was crucial during a winter with record-breaking natural gas demand and is part of National Grid’s ongoing investment in modernizing infrastructure across Brooklyn, Queens, and Staten Island to meet current and future energy needs. Here’s our question: How in the world did lunatic anti-fossil fuel fanatics not notice this upgrade was happening and protest to stop it? 
The EPA has revised certain Biden-era oil and natural gas regulations, specifically aspects of the 2024 Clean Air Act rules (OOOOb/c, known as “Quad O”), to reduce compliance burdens and lower energy costs. Administrator Lee Zeldin states these changes aim to unleash domestic energy by providing flexibility to operators, saving an estimated $2.5 billion over 15 years. Key revisions include extending temporary flaring allowances from 24 to 72 hours and adjusting Net Heating Value (NHV) monitoring requirements, both expected to reduce unnecessary testing without affecting emissions. This action is part of a broader effort to make regulations more workable, promote American energy dominance, and ultimately benefit American families through lower energy costs. 