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EQT and NextEra Energy Announce Southeast Pipeline Project

  EQT and NextEra Energy Announce Southeast Pipeline Project

Business Wire

PITTSBURGH -- June 12, 2014

EQT Corporation (NYSE: EQT) and NextEra US Gas Assets, LLC, an indirect,
wholly owned subsidiary of NextEra Energy, Inc (NYSE: NEE) today announced the
commencement of a non-binding open season for the Mountain Valley Pipeline
project, which is expected to connect Marcellus and Utica natural gas supply
to demand markets in the Southeast region of the United States. The companies
also announced the signing of a letter of intent to form a joint venture that
is expected to construct and own the Mountain Valley Pipeline. Under the
letter of intent, EQT is expected to, through one or more of its affiliates,
including EQT Midstream Partners, LP (NYSE: EQM), operate the pipeline and own
a majority interest in the joint venture.

Subject to FERC approval, the 330-mile Mountain Valley Pipeline project will
extend the Equitrans transmission system from Wetzel County, West Virginia;
and travel south to its expected primary delivery point, Transcontinental Gas
Pipeline Company’s (Transco) Zone 5 compressor station 165 in Pittsylvania
County, Virginia. In addition to the primary delivery point, the Mountain
Valley Pipeline has numerous potential interconnects with pipelines and
processing facilities; and shippers will have the option to request a project
extension to delivery points further south into North Carolina. The Mountain
Valley Pipeline is expected to initially provide at least two billion cubic
feet per day of firm transmission capacity. Including EQT, the open season has
commitments from two foundation shippers that, combined, have agreed to one
Bcf per day of firm transmission capacity through 20-year contracts on the
Mountain Valley Pipeline. Delivery to Transco station 165 is expected to be in
service by the fourth quarter of 2018.

“By leveraging our existing asset footprint and extensive pipeline network,
this project will provide Marcellus and Utica producers a unique opportunity
to transport their growing natural gas production to the southeast, one of the
nation’s fastest growing demand markets,” stated Randy Crawford, senior vice
president, EQT Corporation; and chief operating officer, EQT Midstream
Partners.

“This is an exciting opportunity to invest in a high-quality natural gas
pipeline that we expect to be fully contracted for the next 20 years,” said TJ
Tuscai, president, NextEra US Gas Assets. “This project is expected to support
production growth and physical takeaway capability in the Marcellus and Utica
and provide new markets to producers and shippers in the region. In addition,
customers in the southeast United States should benefit from a new reliable
supply source.”

The open season was filed by Equitrans, LP (Equitrans), a subsidiary of EQT
Midstream Partners; however, the ultimate EQT affiliate to own and/or operate
the pipeline will be determined at a future date. EQT is the general partner
of and also owns a 32% limited partner interest in EQT Midstream Partners. The
open season document can be found at www.eqtmidstreampartners.com.

About EQT Corporation:
EQT Corporation is an integrated energy company with emphasis on Appalachian
area natural gas production, gathering, and transmission. EQT is the general
partner and significant equity owner of EQT Midstream Partners, LP. With more
than 125 years of experience, EQT continues to be a leader in the use of
advanced horizontal drilling technology – designed to minimize the potential
impact of drilling-related activities and reduce the overall environmental
footprint. Through safe and responsible operations, the Company is committed
to meeting the country’s growing demand for clean-burning energy, while
continuing to provide a rewarding workplace and enrich the communities where
its employees live and work. Company shares are traded on the New York Stock
Exchange as EQT.

Visit EQT Corporation at www.EQT.com.

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 its strategically located
transmission, storage, and gathering systems that service the Marcellus and
Utica regions. The Partnership owns 700 miles and operates an additional 200
miles of FERC-regulated interstate pipelines; and also owns more than 1,600
miles of high- and low-pressure gathering lines.

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

About NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company with
consolidated revenues of approximately $15.1 billion, approximately 42,500
megawatts of generating capacity, and approximately 13,900 employees in 26
states and Canada as of year-end 2013. Headquartered in Juno Beach, Fla.,
NextEra Energy’s principal subsidiaries are Florida Power & Light Company,
which serves approximately 4.7 million customer accounts in Florida and is one
of the largest rate-regulated electric utilities in the United States, and
NextEra Energy Resources, LLC, which together with its affiliated entities is
the largest generator in North America of renewable energy from the wind and
sun. Through its subsidiaries, NextEra Energy generates clean, emissions-free
electricity from eight commercial nuclear power units in Florida, New
Hampshire, Iowa and Wisconsin. NextEra Energy has been recognized often by
third parties for its efforts in sustainability, corporate responsibility,
ethics and compliance, and diversity, and has been named No. 1 overall among
electric and gas utilities on Fortune’s list of “World’s Most Admired
Companies” for eight consecutive years, which is an unprecedented achievement
in its industry.

EQT Cautionary Statements
Consummation of the joint venture contemplated by the letter of intent is
subject to finalizing definitive documentation and receipt of customary
approvals, including board approval from each of the parties, including EQT
Midstream Partners, LP.

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, and objectives, including
guidance regarding the expected terms and structure of the joint venture,
including the EQT affiliates to own and/or operate the pipeline, and the
expected length, capacity, delivery points and in service date of the
pipeline. 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. EQT has based these forward-looking statements
on current expectations and assumptions about future events. While EQT
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 EQT's control. With respect to the proposed pipeline
project and joint venture, these risks and uncertainties include, among
others, the ability to obtain regulatory permits and approvals for the
pipeline, the ability to secure customer contracts for the pipeline, the
availability of skilled labor, equipment and materials, and risks that the
conditions to closing the joint venture may not be satisfied. Additional risks
and uncertainties that may affect the operations, performance and results of
EQT's business and forward-looking statements include, but are not limited to,
those set forth under Item 1A, "Risk Factors" of EQT's Form 10-K for the year
ended December 31, 2013, as updated by any subsequent Form 10-Qs.

Any forward-looking statement applies only as of the date on which such
statement is made and EQT does not intend to correct or update any
forward-looking statement, whether as a result of new information, future
events or otherwise.

NextEra Cautionary Statements and Risk Factors That May Affect Future Results
This press release contains “forward-looking statements” within the meaning of
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are not statements of historical facts, but
instead represent the current expectations of NextEra Energy, Inc. (together
with its subsidiaries, NextEra Energy) regarding future operating results and
other future events, many of which, by their nature, are inherently uncertain
and outside of NextEra Energy's control. Forward-looking statements in this
press release include, among others, statements concerning adjusted earnings
per share expectations and future operating performance. In some cases, you
can identify the forward-looking statements by words or phrases such as
“will,” “may result,” “expect,” “anticipate,” “believe,” “intend,” “plan,”
“seek,” “aim,” “potential,” “projection,” “forecast,” “predict,” “goals,”
“target,” “outlook,” “should,” “would” or similar words or expressions. You
should not place undue reliance on these forward-looking statements, which are
not a guarantee of future performance. The future results of NextEra Energy
and its business and financial condition are subject to risks and
uncertainties that could cause actual results to differ materially from those
expressed or implied in the forward-looking statements, or may require it to
limit or eliminate certain operations. These risks and uncertainties include,
but are not limited to, the following: effects of extensive regulation of
NextEra Energy's business operations; inability of NextEra Energy to recover
in a timely manner any significant amount of costs, a return on certain assets
or an appropriate return on capital through base rates, cost recovery clauses,
other regulatory mechanisms or otherwise; impact of political, regulatory and
economic factors on regulatory decisions important to NextEra Energy;
disallowance of cost recovery based on a finding of imprudent use of
derivative instruments; effect of any reductions to or elimination of
governmental incentives that support renewable energy projects or the
imposition of additional taxes or assessments on renewable energy; impact of
new or revised laws, regulations or interpretations or other regulatory
initiatives on NextEra Energy; effect on NextEra Energy of potential
regulatory action to broaden the scope of regulation of over-the-counter (OTC)
financial derivatives and to apply such regulation to NextEra Energy; capital
expenditures, increased operating costs and various liabilities attributable
to environmental laws, regulations and other standards applicable to NextEra
Energy; effects on NextEra Energy of federal or state laws or regulations
mandating new or additional limits on the production of greenhouse gas
emissions; exposure of NextEra Energy to significant and increasing compliance
costs and substantial monetary penalties and other sanctions as a result of
extensive federal regulation of its operations; effect on NextEra Energy of
changes in tax laws and in judgments and estimates used to determine
tax-related asset and liability amounts; impact on NextEra Energy of adverse
results of litigation; effect on NextEra Energy of failure to proceed with
projects under development or inability to complete the construction of (or
capital improvements to) electric generation, transmission and distribution
facilities, gas infrastructure facilities or other facilities on schedule or
within budget; impact on development and operating activities of NextEra
Energy resulting from risks related to project siting, financing,
construction, permitting, governmental approvals and the negotiation of
project development agreements; risks involved in the operation and
maintenance of electric generation, transmission and distribution facilities,
gas infrastructure facilities and other facilities; effect on NextEra Energy
of a lack of growth or slower growth in the number of customers or in customer
usage; impact on NextEra Energy of severe weather and other weather
conditions; threats of terrorism and catastrophic events that could result
from terrorism, cyber-attacks or other attempts to disrupt NextEra Energy's
business or the businesses of third parties; inability to obtain adequate
insurance coverage for protection of NextEra Energy against significant losses
and risk that insurance coverage does not provide protection against all
significant losses; risk of increased operating costs resulting from
unfavorable supply costs necessary to provide full energy and capacity
requirement services; inability or failure to manage properly or hedge
effectively the commodity risk within its portfolio; potential volatility of
NextEra Energy's results of operations caused by sales of power on the spot
market or on a short-term contractual basis; effect of reductions in the
liquidity of energy markets on NextEra Energy's ability to manage operational
risks; effectiveness of NextEra Energy's risk management tools associated with
its hedging and trading procedures to protect against significant losses,
including the effect of unforeseen price variances from historical behavior;
impact of unavailability or disruption of power transmission or commodity
transportation facilities on sale and delivery of power or natural gas;
exposure of NextEra Energy to credit and performance risk from customers,
hedging counterparties and vendors; failure of counterparties to perform under
derivative contracts or of requirement for NextEra Energy to post margin cash
collateral under derivative contracts; failure or breach of NextEra Energy's
information technology systems; risks to NextEra Energy's retail businesses
from compromise of sensitive customer data; losses from volatility in the
market values of derivative instruments and limited liquidity in OTC markets;
impact of negative publicity; inability to maintain, negotiate or renegotiate
acceptable franchise agreements; increasing costs of health care plans; lack
of a qualified workforce or the loss or retirement of key employees;
occurrence of work strikes or stoppages and increasing personnel costs;
NextEra Energy's ability to successfully identify, complete and integrate
acquisitions, including the effect of increased competition for acquisitions;
environmental, health and financial risks associated with ownership and
operation of nuclear generation facilities; liability of NextEra Energy for
significant retrospective assessments and/or retrospective insurance premiums
in the event of an incident at certain nuclear generation facilities;
increased operating and capital expenditures at nuclear generation facilities
resulting from orders or new regulations of the Nuclear Regulatory Commission;
inability to operate any owned nuclear generation units through the end of
their respective operating licenses; liability for increased nuclear licensing
or compliance costs resulting from hazards, and increased public attention to
hazards, posed to owned nuclear generation facilities; risks associated with
outages of owned nuclear units; effect of disruptions, uncertainty or
volatility in the credit and capital markets on NextEra Energy's ability to
fund its liquidity and capital needs and meet its growth objectives; inability
to maintain current credit ratings; impairment of liquidity from inability of
creditors to fund their credit commitments or to maintain their current credit
ratings; poor market performance and other economic factors that could affect
NextEra Energy's defined benefit pension plan's funded status; poor market
performance and other risks to the asset values of nuclear decommissioning
funds; changes in market value and other risks to certain of NextEra Energy's
investments; effect of inability of NextEra Energy subsidiaries to pay
upstream dividends or repay funds to NextEra Energy or of NextEra Energy's
performance under guarantees of subsidiary obligations on NextEra Energy's
ability to meet its financial obligations and to pay dividends on its common
stock; and effect of disruptions, uncertainty or volatility in the credit and
capital markets of the market price of NextEra Energy's common stock. NextEra
Energy discusses these and other risks and uncertainties in its annual report
on Form 10-K for the year ended December 31, 2013 and other SEC filings, and
this press release should be read in conjunction with such SEC filings made
through the date of this press release. The forward-looking statements made in
this press release are made only as of the date of this press release and
NextEra Energy undertakes no obligation to update any forward-looking
statements.

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Contact:

EQT analyst inquiries please contact:
Patrick Kane, Chief Investor Relations Officer, 412-553-7833
pkane@eqt.com
or
Nate Tetlow, Manager, Investor Relations, 412-553-5834
ntetlow@eqt.com
or
EQT media inquiries please contact:
Natalie Cox, Corporate Director, Communications, 412-395-3941
ncox@eqt.com
or
NextEra Energy media contact:
Media Line: 561-694-4442
 
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