EQT and Norway wealth fund bid for Acciona Energia - report

EQT (NYSE:EQT) subsidiary secured a long-term LNG supply deal with Lithuanian energy group UAB Ignitis, covering deliveries from 2027 to 2036. The agreement exposes EQT to US and European gas price benchmarks. EQT, a US-based natural gas producer, has a market value of approximately $34.4 billion. The deal aligns with EQT's strategy of long-term gas contracts and infrastructure investments for stable cash flow.

Oil and gas companies are expanding into power generation through behind-the-meter (BTM) projects, partnering with hyperscalers like Microsoft. Chevron, Williams, and EQT are involved in significant BTM initiatives, with Chevron's Project Kilby targeting 2.67 GW capacity. Williams reported Q2 earnings growth, partly due to its power projects, while EQT is monetizing gas into power-linked contracts. Analysts project substantial data-center load growth, driving demand for BTM solutions.

Mizuho upgraded its 2026 Brent/WTI price forecasts to $73.25/$68.25 per barrel, citing Middle East disruptions. The firm highlighted EQT Corporation (EQT), Devon Energy (DVN), and Permian Resources (PR) as top picks, noting their strong Q2 results and exposure to improving oil fundamentals. The S&P 500 Energy sector gained 2.5% week-over-week, outperforming the broader market by 29.2% year-to-date.

EQT AB agreed to acquire a majority stake in UK insurance broker McGill and Partners from Warburg Pincus for $2 billion. McGill and Partners generates over $250 million in revenue and serves 1,000 clients. The deal is expected to close in early 2027, with EQT investing to drive global expansion and technology development.

EQT AB completed its combination with Coller Capital, forming Coller EQT. The deal adds 9 new strategies to EQT's offerings and increases its assets under management to €341 billion. EQT aims to double Coller's fee-generating assets under management within four years, according to the company.

EQT Holdings reported a 33% year-over-year increase in profit from continuing operations, with revenue up 9.4% and margin expansion. The company is exiting superannuation trusteeship to focus on core businesses, despite legal and regulatory costs impacting results. Management expects strong momentum to continue in TWS and CTS.