MarkWest Energy Partners LP, a natural-gas processor and transporter, agreed to pay $230 million for EQT Corp.’s Kentucky processing plant and pipeline to help meet Appalachian output.
MarkWest, based in Denver, will increase the capacity of the processing complex in Lang ley, Ky., after the deal closes, the companies said in a statement Tuesday. EQT will sign a long-term agreement for MarkWest to process its gas from shale formations in Kentucky and West Virginia.
EQT had agreed in May to form an Appalachian fuel-processing joint venture with Denver-based DCP Midstream Partners LP, controlled by Spectra Energy Corp. and ConocoPhillips. DCP is no longer pursuing the joint venture, it said Tuesday in a separate statement.
Another MarkWest partnership — MarkWest Liberty Midstream & Resources — announced plans Tuesday to build a natural-gas-processing plant in in Marion County, W.Va., that would be capable of processing 120 million cubic feet of gas a day.
