Utilities Sector Review: EQT Corporation and LNG
EQT Corporation (NYSE:EQT): In it’s Annual Energy Outlook 2012 report, the Energy Information Administration projects the United States as a net exporter of liquefied natural gas in 2016, a net pipeline exporter in 2025, and an overall net exporter of natural gas in 2021. Also in the report, the EIA cut its estimated unproved technically recoverable resource of shale gas for the United States to 482T cubic feet, “substantially below” its previous estimate of 827T cubic feet from a year ago, based mainly on a decrease in the estimate for the Marcellus shale, from 410T cubic feet to 141T cubic feet.
The shares closed at $50.13, up $3.83, or 8.27%, on the day. Its market capitalization is $7.49 billion.
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