Williams to pay $1.95B for natural gas facilities, pipelines in Louisiana, Mississippi
By 10/12 Industry Report staff 1/2/2024
Pipeline operator Williams Cos. has agreed to buy natural gas storage assets from an affiliate of Hartree Partners LP for $1.95 billion in a bet on demand growth for the fuel in the U.S. and overseas markets, according to Bloomberg.
The deal includes six underground storage facilities in Louisiana and Mississippi, Williams said last week in a statement. The company will also get 230 miles of pipeline plus 30 interconnects.
As well as giving Williams storage connected to Transco, the biggest U.S. gas transmission conduit, the transaction positions Williams to gain from further expansion of the nation’s liquefied natural gas export industry.
The purchase adds to Williams’ investments in the Gulf Coast to service LNG exports, which includes the Louisiana Energy Gateway pipeline expansion. Williams also signed a nonbinding agreement with LNG export developer Sempra in 2022, though it hasn’t yet finalized the deal. Read more.
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GoHaynesvilleShale.com (GHS) was launched in 2008 during a pivotal moment in the energy industry, when the Haynesville Shale formation—a massive natural gas reserve lying beneath parts of northwest Louisiana, east Texas, and southwest Arkansas—was beginning to attract national attention. The website was the brainchild of Keith Mauck, a landowner and entrepreneur who recognized a pressing need: landowners in the region had little access to…
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AboutAs exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More |
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