Williams Announces Acquisition Of Strategic Gulf Coast Natural Gas Storage Portfolio With Direct Access To LNG Export Facilities And Interstate Pipelines For $1.95B
Portfolio Pulse from Benzinga Newsdesk
Williams (NYSE:WMB) is set to acquire a portfolio of natural gas storage assets from an affiliate of Hartree Partners LP for $1.95 billion. The assets include six storage facilities with a total capacity of 115 Bcf, located in Louisiana and Mississippi, and are strategically positioned to benefit from LNG exports and power generation demand. The acquisition, expected to close in January 2024, is seen as a strategic fit for Williams, enhancing its ability to meet growing natural gas demand, particularly for high deliverability storage.
December 27, 2023 | 1:16 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Williams' acquisition of natural gas storage assets for $1.95B from Hartree Partners LP enhances its strategic position in the LNG and power generation markets, with expected earnings growth from the assets.
The acquisition is significant for Williams as it expands its natural gas storage capacity in strategic locations, which is likely to support its earnings growth given the increasing demand for natural gas. The transaction's expected close in January 2024 and the assets' direct access to LNG export facilities and interstate pipelines, including Transco, suggest a positive outlook for Williams' operational capabilities and market reach.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100