EQT Midstream Partners and its Equitrans subsidiary announced the commencement of a non-binding open season to gauge customer interest in securing firm transmission and storage capacity on what will be known as the "Allegheny Valley Connector." The Allegheny Valley Connector consists of transmission and storage assets that are expected to transfer to EQT as part of a proposed transaction with Peoples Natural Gas Company. This proposed transaction is currently pending regulatory approvals, which are anticipated by year-end 2013. Upon closing of the transaction, the Allegheny Valley Connector is expected to be operated by Equitrans and owned by EQT Corporation, and is not projected to have a positive or negative affect on EQT Midstream Partners' distributable cash flow.
Happy demi-anniversary, stock market rally. Will the honeymoon ever end?