EQT is to buy Range Resources in a multibillion-dollar deal set to create America's biggest gas producer

The takeover has been priced at $13 billion, but some reports put the overall value of the combination as high as $50 billion. The deal has been announced but not yet completed. It brings two major North American gas players under one roof. It also hands EQT the top spot among US gas producers, as energy firms bulk up to dominate supply.

Price tags differ sharply, with figures of $13 billion and $50 billion both reported.

The merger is billed as one of the biggest North American gas deals in years.