Williams (NYSE: WMB) is diving deeper into the natural gas game with a strategic $1.95 billion acquisition of six Gulf Coast storage facilities boasting a massive 115 billion cubic feet (Bcf.) capacity. This move strengthens Williams’ grip on pipeline infrastructure and unlocks prime access to key markets, supporting LNG export and power generation needs.
The Storage deal consists of 6 assets owned by Hartree Partners.
In 2019, Hartree acquired Cardinal Gas Storage, which is comprised of four gas storage facilities: Arcadia Gas Storage, Cadeville Gas Storage, Perryville Gas Storage, and Monroe Gas Storage. In 2021, Hartree acquired two additional facilities: Pine Prairie Energy Center and Southern Pines Energy Center.
Source: EnergyConnexions; Press Release
The acquisition encompasses 230 miles of pipeline and 30 critical interconnects, including a direct connection to Transco, the nation’s largest gas transmission system.
Source: EnergyConnexions; Press Release
Transaction Summary:
- Six Louisiana and Mississippi storage facilities totaling 115 Bcf capacity.
- 230 miles of gas transmission pipeline and 30 pipeline interconnects.
- Expected closing in January 2024.