Redevelopment Project Expected to Deliver Significant Economic Benefits to the People, Businesses and Communities of Pennsylvania

New Shippingport Power Station Expected to Be a Net-Exporter of Power to PJM, Increasing Local and National Power Supply and Enhancing Grid Reliability

The Frontier Group of Companies (“FGC”), owner and developer of the 660-acre Shippingport Industrial Park in Pennsylvania, today announced that it is converting the former 2.7 gigawatt Bruce Mansfield Power Plant into Shippingport Power Station, a significantly larger state-of-the art natural gas generation plant with new incremental onsite generation. Additionally, FGC has secured a partner to build a collocated data center facility to support America’s demand for AI infrastructure. Following its completion, Shippingport Power Station is expected to supply substantial direct power to the prospective data center or other potential on-site uses and contribute over one gigawatt of excess capacity back to PJM Interconnection, the largest power grid operator in the United States, boosting both regional and national power supply.

The redevelopment project is expected to benefit Pennsylvania with more than $6 billion of new economic activity, encompassing direct spending, indirect spending and induced economic output, as well as create more than 15,000 construction jobs and 340 new full-time jobs in the region. It will also deliver approximately $139 million in annual recurring revenue for the state, including more than $13 million in tax revenue, $36 million in labor income and $6 million in local county tax revenue.

David Franjoine, CEO and Founder of FGC, said, “The Bruce Mansfield Power Plant dutifully served Pennsylvania for 43 years. With the support of Governor Josh Shapiro and Senator Dave McCormick, we will transform this decommissioned coal facility into a modernized power facility that supports America's goal of energy dominance and reinvigorates local communities with high-quality employment opportunities. I look forward to working closely with Senator McCormick and Governor Shapiro to bring this important initiative to fruition.”

Shippingport Power Station is expected to utilize approximately 800 million cubic feet per day of natural gas produced by the Marcellus and Utica shales, located in Western Pennsylvania. As part of the redevelopment project, EQT Corporation (NYSE: EQT) (“EQT”), the largest integrated natural gas producer in the U.S., intends to serve as the new plant’s natural gas supplier.

Toby Z. Rice, President and Chief Executive Officer of EQT, said, “As a Pennsylvania company, we are especially proud to be a part of this important project, which highlights the critical role of domestic energy in powering economic growth. We look forward to supporting Shippingport Power Station with reliable, affordable natural gas for the benefit of our state and for all Americans.”

In addition, National Fuel Gas Supply Corporation, a subsidiary of National Fuel Gas Company (NYSE: NFG) with nearly 125 years of natural gas industry experience, will serve as the transporter for a significant portion of the natural gas supplies to the Shippingport Power Station.

David P. Bauer, President and Chief Executive Officer of National Fuel Gas Company, said, “We look forward to supporting this significant investment in Western Pennsylvania, leveraging our interstate pipeline network to provide reliable deliveries of Appalachian Basin natural gas directly to the facility, with new transportation capacity expected to come online as early as Fall 2026.”

About The Frontier Group of Companies

The Frontier Group of Companies (FGC), based in Buffalo, New York and founded in 2001, specializes in site acquisition, environmental remediation, asset repurposing, energy generation and industrial development of legacy brownfield sites. As a liability transfer company, FGC assumes all environmental liability, identifies the hazardous substances, self-performs remediation and cleanup, razes unusable improvements and engineers and plans the future use of its sites. The facilities that FGC acquires include former coal fired power plants, steel mills, paper mills, coal mines and chemical plants, among a variety of primarily industrial facilities throughout North America. Frontier is a privately held company with a proven and client-endorsed track record, and an extensive list of successful projects completed in over 30 states and seven countries. Additional information about FGC’s Shippingport Project, visit: https://frontier-companies.com/shippingport-industrial-park/.

About EQT Corporation

EQT Corporation is a premier, vertically integrated American natural gas company with production and midstream operations focused in the Appalachian Basin. We are dedicated to responsibly developing our world-class asset base and being the operator of choice for our stakeholders. By leveraging a culture that prioritizes operational efficiency, technology and sustainability, we seek to continuously improve the way we produce environmentally responsible, reliable and low-cost energy. We have a longstanding commitment to the safety of our employees, contractors and communities and to the reduction of our overall environmental footprint. Our values are evident in the way we operate and in how we interact each day — trust, teamwork, heart and evolution are at the center of all we do.

About National Fuel Gas Company

National Fuel is a diversified energy company headquartered in Western New York that operates an integrated collection of natural gas assets across four business segments: Exploration and Production, Pipeline and Storage, Gathering and Utility. Additional information about National Fuel is available at www.nationalfuel.com.

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