Dec 2 (Reuters) – Natural gas producer EQT Corp (EQT.N) said on Friday the U.S. antitrust regulator had requested more information about its proposed $5.2 billion takeover of THQ Appalachia I LLC and associated pipeline infrastructure.
The deal, first announced in September, is the latest in the oil and gas sector to face regulatory delays as part of the Biden administration’s efforts to tackle soaring energy prices and better protect the customer.
Under its last chairwoman Lina Khan, the Federal Trade Commission (FTC) has been making more deals with “second requests” — requests for additional information and documents that can delay regulatory clearance by months.
EnCap’s $1.5 billion takeover of producer EP Energy, refiner HollyFrontier’s $2.6 billion merger with Sinclair Oil, and pipeline operator Energy Transfer’s takeover of Enable Midstream for 7.2 billions of dollars were all subject to the FTC’s second demands.
EQT, the largest US natural gas producer, said it planned to cooperate with the FTC’s request. He has entered into talks with THQ pipeline operator XcL Midstream and the company to modify the terms of the agreement in the event that it is not concluded by December 30 as originally planned.
Reporting by Ruhi Soni in Bangalore; Editing by Devika Syamnath
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