EQT History

In 1888, Equitable Gas Company was incorporated as a subsidiary of Philadelphia Company.

Over the course of Sweden’s modern history, the Wallenberg family has been the main influencer of the country’s industrial, entrepreneurial and banking sphere, partly through its investment company Investor AB, founded in 1916.

In 1950, the company separated from the Philadelphia Company and listed on the New York Stock Exchange.

In 1984, the company changed its corporate name to Equitable Resources, Inc.

The idea of starting a private equity firm, rooted in the Wallenberg family’s traditions of responsible ownership, was born in 1993 during a dinner in Stockholm’s Old Town.

In 1995, the company offered the first fixed bill energy contract in United States where what a customer pays for energy is fixed no matter what the weather does.

In 1997, the company also acquired offshore oil and gas fields from Chevron Corporation for $80.6 million.

Over the coming years, EQT continued to grow its presence in the Nordics and with a strong track record of successful investments, EQT made its first major international move with the opening of its Munich office in 1999, despite many critics encouraging EQT to stay on its home turf.

In 2000, the company acquired Appalachian wells and reserves from Statoil.

By 2006, the time had come to head East, and EQT’s Hong Kong office was opened.

2008 was also the year when EQT opened its New York office and published its first Annual Review with the goal of increasing transparency towards broader groups of stakeholders.

In February 2009, the company changed its name from Equitable Resources, Inc. to EQT Corporation.

2010 was the year when EQT accelerated its sustainability actions and became signatory to the UN Principles for Responsible Investment (UN PRI). It was also around this time EQT established its sector teams, which enabled a more sophisticated deal sourcing process for EQT’s prioritized industries.

In 2011, EQT opened one of the first compressed natural gas (CNG) fueling stations in the Strip District of Pittsburgh.

In an effort to increase transparency and facilitate regulatory consistency at all levels of the organization, EQT resolved to manage all its future funds onshore in Europe in 2012.

Over time, Partners at EQT increased their ownership and by 2013, they owned 81 percent of EQT AB with Investor AB owning the remaining 19 percent.

In 2014, there was a changing of the guard at EQT as Thomas von Koch was appointed CEO and Conni Jonsson entered the role of full-time working Chairperson.

In March 2017, Steven Schlotterbeck became chief executive officer of the company.

In December 2018, the firm's shareholders decided on a reorganization with the main purpose of establishing EQT AB as the ultimate parent company in the EQT AB Group and to align the ownership interests in the company.