EQT Secures Major Gas Supply Deal for Homer City Energy Campus

EQT Corporation EQT, a U.S.-based natural gas company, has signed an agreement with Homer City Redevelopment (“HCR”) to supply natural gas to the Homer City Energy Campus. The natural gas will power the Homer City Energy Campus, deemed to be an AI-integrated, high-performance computing data-center campus spanning 3,200 acres.The Homer City Energy Campus will include a 4.4 GW gas-fired power generation facility on-site. This project will completely modify the premises of Pennsylvania’s largest former coal plant into a state-of-the-art data infrastructure campus with advanced AI computing, featuring an on-site, natural gas-fueled power generation facility. The project is currently under construction. It is anticipated to begin power generation in 2027.Per the terms of the agreement, EQT will be the sole supplier of natural gas for this data center campus. Furthermore, the natural gas will be delivered to the site via the Texas Eastern Transmission and Eastern Gas Transmission & Storage pipeline systems. This setup is expected to ensure a reliable supply for powering the AI-integrated data center campus, enhancing long-term energy supply security.The companies have mentioned that the natural gas supply for this project could go up to 665,000 million British thermal units per day (MMBtu/d). The volume of natural gas to be supplied demonstrates the fact that data centers consume extensive amounts of electricity and power to support high-level computing tools and systems, and data storage. This deal is considered one of the largest single-site gas transactions in the North American energy landscape.While EQT is serving as the exclusive supplier to this data center campus, GE Vernova has secured a deal to supply seven 7HA.02 natural gas turbines. These natural gas turbines boast a high efficiency level and are a crucial part of the energy supply infrastructure for the data center. Delivery of the natural gas turbines is scheduled to begin in 2026.EQT’s Zacks Rank & Key PicksCurrently, EQT carries a Zacks Rank #3 (Hold).Some better-ranked stocks from the energy sector are MPLX LP MPLX, Viper Energy Inc. VNOM and W&T Offshore WTI, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.MPLX LP owns and operates a wide range of midstream assets. The partnership's midstream assets include oil and natural gas gathering systems and transportation pipelines for crude, natural gas and refined petroleum products. MPLX is least exposed to commodity price fluctuations as it generates stable fee-based revenues. Furthermore, it surpasses its industry peers in terms of distribution yield, reflecting its commitment to returning capital to its unitholders.Viper Energy generates strong, steady royalty income from its royalty acres in the prolific Permian Basin, with active rigs providing ample growth potential. The company boasts a lower debt-to-capitalization ratio than the composite stocks in the energy sector, indicating a healthier financial position.W&T Offshore benefits from its prolific Gulf of America assets, which offer low decline rates, strong permeability and significant untapped reserves. The company’s recent acquisition of six shallow-water fields in the Gulf of America boosts its production prospects in the future, which is expected to significantly benefit WTI.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity.Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report EQT Corporation (EQT): Free Stock Analysis Report W&T Offshore, Inc. (WTI): Free Stock Analysis Report MPLX LP (MPLX): Free Stock Analysis Report Viper Energy Inc. (VNOM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks