03:49 PM EDT, 10/25/2024 (MT Newswires) -- Blackstone (BX) is in late-stage discussions to acquire minority stakes in EQT's (EQT) interstate natural gas pipelines for about $3.5 billion, Reuters reported Friday, citing people familiar with the matter.

A successful transaction will help EQT reduce the debt it accumulated with Equitrans Midstream's acquisition earlier this year, according to the report.

Blackstone intends to fund the transaction through its credit and insurance arm, with the possibility of an agreement in the coming weeks, the report added.

EQT will retain operational control of the pipelines under the terms of the potential deal, according to the news outlet.

Neither Blackstone nor EQT immediately responded to MT Newswires' requests for comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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