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EQT Midstream Partners Announces Public Offering of Common Units

  EQT Midstream Partners Announces Public Offering of Common Units

Business Wire

PITTSBURGH -- July 15, 2013

EQT Midstream Partners, LP (NYSE: EQM), an EQT Corporation company, announced
today the commencement, subject to market conditions, of an underwritten
public offering of 10,000,000 common units representing limited partner
interests. EQT Midstream Partners, LP (Partnership) also intends to grant the
underwriters a 30-day option to purchase up to an additional 1,500,000 common
units.

The Partnership intends to use the net proceeds from the offering to fund a
portion of the cash distribution to be made to EQT Corporation in connection
with the Partnership’s previously announced acquisition of Sunrise Pipeline,
LLC (Sunrise).

The Partnership intends to use the net proceeds from the underwriters’
exercise of their option to purchase additional common units, if any,
including any proportionate capital contribution from the Partnership’s
general partner to maintain its 2% general partner interest in the
Partnership, for general partnership purposes.

Citigroup, Barclays, BofA Merrill Lynch, Credit Suisse, Deutsche Bank
Securities, Goldman, Sachs & Co., J.P. Morgan, RBC Capital Markets, and Wells
Fargo Securities are acting as joint book-running managers for the offering.
When available, copies of the preliminary prospectus supplement, prospectus
supplement, and accompanying base prospectus relating to the offering may be
obtained free of charge on the Securities and Exchange Commission’s website at
www.sec.gov or from the underwriters of the offering as follows:

Citigroup                            Barclays
c/o Broadridge Financial                  c/o Broadridge Financial Solutions
Solutions
1155 Long Island Avenue                   1155 Long Island Avenue
Edgewood, NY 11717                        Edgewood, NY 11717
Telephone: 1-800-831-9146                 barclaysprospectus@broadridge.com
                                          Telephone: 1-888-603-5847
                                          
BofA Merrill Lynch                        Credit Suisse
Attn: Prospectus Department               Attn: Prospectus Department
222 Broadway                              One Madison Avenue
New York, NY 10038                        New York, NY 10010
dg.prospectus_requests@baml.com           atnewyork.prospectus@credit-suisse.com
                                         Telephone: 1-800-221-1037
                                          
Deutsche Bank Securities                  Goldman, Sachs & Co.
Attn: Prospectus Group                    Attn: Prospectus Department
60 Wall Street                            200 West Street
New York, NY 10005-2836                   New York, NY 10282
prospectus.CPDG@db.com                    prospectus-ny@ny.email.gs.com
Telephone: 800-503-4611                   Telephone: 866-471-2526
                                          
J.P. Morgan                               RBC Capital Markets
c/o Broadridge Financial                  Attn: Equity Syndicate
Solutions
1155 Long Island Avenue                   Three World Financial Center
Edgewood, NY 11717                        200 Vesey Street, 8th Floor
Telephone: 1-888-803-9204                 New York, NY 10281
                                          Telephone: 877-822-4089
                                          
Wells Fargo Securities
Attn: Equity Syndicate Dept.
375 Park Avenue
New York, NY 10152
cmclientsupport@wellsfargo.com
Telephone: 800-326-5897

The common units will be offered and sold pursuant to an effective shelf
registration statement previously filed with the Securities and Exchange
Commission. This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein, nor shall
there be any sale of these securities in any state or jurisdiction in which
such an offer, solicitation, or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or jurisdiction.
The offering is being made only by means of a prospectus and related
prospectus supplement meeting the requirements of Section 10 of the Securities
Act of 1933, as amended.

About EQT Midstream Partners:

EQT Midstream Partners, LP is a growth-oriented limited partnership formed by
EQT Corporation to own, operate, acquire and develop midstream assets in the
Appalachian basin. The Partnership provides midstream services to EQT
Corporation and third-party companies through two primary assets: the
Equitrans Transmission and Storage System and the Equitrans Gathering System.
The Partnership has a 700-mile, FERC-regulated interstate pipeline system and
more than 2,000 miles of FERC-regulated, low-pressure gathering lines.

Visit EQT Midstream Partners, LP at www.eqtmidstreampartners.com

Cautionary Statements

Disclosures in this press release contain certain forward-looking statements.
Statements that do not relate strictly to historical or current facts are
forward-looking. Without limiting the generality of the foregoing,
forward-looking statements contained in this press release specifically
include the expectations of plans, strategies, objectives and growth of the
Partnership and its subsidiaries, including guidance regarding the number of
units to be sold in the offering, the Partnership’s expected use of proceeds
from the offering, the timing of the closing of the Sunrise Acquisition. These
statements involve risks and uncertainties that could cause actual results to
differ materially from projected results. Accordingly, investors should not
place undue reliance on forward-looking statements as a prediction of actual
results. The Partnership has based these forward-looking statements on current
expectations and assumptions about future events. While the Partnership
considers these expectations and assumptions to be reasonable, they are
inherently subject to significant business, economic, competitive, regulatory
and other risks and uncertainties, most of which are difficult to predict and
many of which are beyond the Partnership’s control. The risks and
uncertainties that may affect the operations, performance and results of the
Partnership’s business and forward-looking statements include, but are not
limited to, those risks discussed in the Partnership’s most recent Annual
Report on Form 10-K, Quarterly Report on Form 10-Q and other filings with the
Securities and Exchange Commission. Any forward-looking statement speaks only
as of the date on which such statement is made and the Partnership does not
intend to correct or update any forward-looking statement, whether as a result
of new information, future events or otherwise.

Contact:

EQT Midstream Partners
Analyst inquiries please contact:
Nate Tetlow – Investor Relations Manager, 412-553-5834
ntetlow@eqtmidstreampartners.com
or
Patrick Kane – Chief Investor Relations Officer, 412-553-7833
pkane@eqtmidstreampartners.com
or
Media inquiries please contact:
Natalie Cox – Corporate Director, Communications, 412-395-3941
ncox@eqtmidstreampartners.com