Williams to buy natural gas storage assets for $1.95 B
Pipeline operator Williams said on Wednesday it would buy a portfolio of natural gas storage assets from an affiliate of Hartree Partners LP for $1.95 B.
The deal includes six underground natural gas storage facilities with total capacity of 115 billion cubic feet (Bcf) in the U.S. states of Louisiana and Mississippi.
Williams would also get 230 miles of gas transmission pipeline and 30 pipeline interconnects to markets including liquefied natural gas, as well as connections to Transco, the nation's largest natural gas transmission pipeline.
"These assets better position Williams' natural gas storage operations to serve Gulf Coast LNG demand and growing electrification loads from data centers along the Transco corridor," said Williams CEO Alan Armstrong.
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