EQT’s acquisition of Range underscores race to dominate US natgas market

By Scott DiSavino Oct 28 (Reuters) EQT s acquisition of rival producer Range Resources this week marks the latest consolidation in the natural gas industry, as producers are scrambling to lock in supply to feed growing demand for liquefied natural gas exports and power demand. Canonsburg, Pennsylvania-based EQT said on Monday it will buy Fort Worth, Texas-based Range Resources in a $13 billion all-stock ​deal that will create the nation s biggest gas producer. EQT is the second-largest natural gas producer in the US. The ‌Range transaction increases our market access to what we believe are the two premium markets in this world domestically in Appalachia and on the international front with LNG, EQT CEO Toby Rice told Reuters in an interview following the deal. He said it makes the company the natural choice for gas supply domestically and around the world. The deal underscores how top US gas producers are racing to consolidate ahead of what they expect will be a step-change in d