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In 1988, EQT began its second century in the natural gas business. Equitrans was formed that same year. Although the timing was coincidental, Equitrans was a direct outgrowth of its parent's long history. Having helped create the natural gas industry in the first place, EQT was accustomed to anticipating its evolution and pioneered many innovations, including underground storage, on the road to becoming a multi-billion dollar company. The particular vision that gave birth to Equitrans saw the coming of a new relationship between pipelines and their markets - one where customers were no longer passive recipients of natural gas, but discriminating buyers of energy services.