EQT Advances into Phase 1 Planning of Clean Hydrogen Project

EQT, together with its peers in the Appalachian Regional Clean Hydrogen Hub, have advanced to Phase 1 Award Status from the U.S. Department of Energy

PITTSBURGH, July 31, 2024 /PRNewswire/ -- EQT Corporation (NYSE: EQT) today announced that its strategic plans to produce clean hydrogen and low carbon aviation fuel (LCAF) from its low emissions Appalachian natural gas will advance into Phase 1 planning following the execution of a cooperative agreement between the Appalachian Regional Clean Hydrogen Hub (ARCH2) and the U.S. Department of Energy (DOE) Office of Clean Energy Demonstrations (OCED).

>> In Other News: Hog Lick Aggregates to Begin Work as Part of the Appalachian Regional Clean Hydrogen Hub (ARCH2)

The agreement unlocks $30 million in initial funding for ARCH2 projects in Phase 1 from a potential $925 million that may be distributed in future phases, as designated by the Bipartisan Infrastructure Law, which establishes an investment of up to $7 billion for the Regional Clean Hydrogen Hubs (H2Hubs) Program. Phase 1 will encompass initial planning, siting, permitting, community engagement and analysis activities to ensure the Hub and its projects are technologically and financially viable, with input from local stakeholders.

EQT plans to construct and operate a clean hydrogen production facility to convert natural gas into hydrogen-rich syngas via autothermal reforming, and then into LCAF and other liquid fuels. Hydrogen will also be purified from the syngas and used for fuel cell vehicles or blending to gas distribution lines. The project location is still under consideration.

"The advancement of ARCH2 enables EQT and our region to lead the next generation of natural gas by kickstarting a clean hydrogen economy that deploys innovative, commercial-scale technologies, promotes the growth of our economy and improves the environment by decarbonizing hard-to-abate industries that lack affordable, scalable solutions," said Toby Z. Rice, President & CEO of EQT Corporation.

Rice continued, "But the backdrop of this milestone is just as important as our path forward. Our vast supply of affordable, low-emissions Appalachian natural gas, underpinned by the innovation, grit and reliability of our region's workforce, has driven our nation's climate progress for decades. In the past five years alone, EQT has increased production by 50 percent and reduced our legacy Scope 1 and 2 production emissions by nearly 70 percent. Natural gas is – and will continue to be – the answer to the world's call for cheaper, more reliable, more affordable energy."

About EQT Corporation

EQT Corporation is a leading independent natural gas production company with operations focused in the Appalachian Basin. We are dedicated to responsibly developing our world-class asset base and being the operator of choice for our stakeholders. By leveraging a culture that prioritizes operational efficiency, technology and sustainability, we seek to continuously improve the way we produce environmentally responsible, reliable and low-cost energy. We have a longstanding commitment to the safety of our employees, contractors, and communities, and to the reduction of our overall environmental footprint. Our values are evident in the way we operate and in how we interact each day – trust, teamwork, heart, and evolution are at the center of all we do. To learn more, visit eqt.com.

SOURCE EQT Corporation