EQGP Holdings, LP owns, operates, acquires, and develops midstream energy assets in the Appalachian Basin through its partnership interests in EQT Midstream Partners, LP (EQM Midstream Partners), including the general partner interest, incentive distribution rights, and limited partner units. The company operates in two primary segments, Gathering and Transmission, providing natural gas gathering, transmission, and storage services to EQT Corporation and various third parties across Pennsylvania, West Virginia, and Ohio. Founded in 2015 and headquartered in Pittsburgh, Pennsylvania, EQGP Holdings, LP functions as a subsidiary within the broader EQT Corporation ecosystem, targeting the midstream natural gas sector with a focus on Appalachian Basin infrastructure.
In a significant strategic development, Equitrans Midstream Corporation acquired 100% ownership of EQGP Holdings, LP in early 2019 through negotiated purchases of common units and the exercise of a limited call right, leading to the delisting of EQGP common units from the New York Stock Exchange and deregistration with the SEC. This transaction, completed following Equitrans Midstream's spin-off from EQT Corporation in 2018, simplified the corporate structure by eliminating public trading of EQGP and consolidating control under Equitrans Midstream, which owned the general partner interest and over 91% of limited partner interests prior to the deal. No material independent operations, new product launches, funding rounds, or further acquisitions involving EQGP have been reported since the 2019 privatization.