Williams Announces That It Has Closed Its Acquisition Of A Portfolio Of Natural Gas Storage Assets From An Affiliate Of Hartree Partners LP For $1.95B
Portfolio Pulse from Benzinga Newsdesk
Williams (NYSE:WMB) has completed the acquisition of a natural gas storage asset portfolio from an affiliate of Hartree Partners LP for $1.95 billion. The assets include six storage facilities in Louisiana and Mississippi, 230 miles of gas transmission pipeline, and 30 pipeline interconnects. The acquisition is expected to enhance Williams' transportation network to meet the growing demand for natural gas, particularly for LNG exports and power generation. The facilities have a total capacity of 115 Bcf and are among the highest in injection and withdrawal capacity in the U.S.
January 03, 2024 | 9:22 pm
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Williams completes a strategic acquisition of natural gas storage assets for $1.95B, likely to strengthen its market position and meet increasing demand.
The acquisition of the natural gas storage assets is a significant strategic move for Williams, likely to enhance its infrastructure capabilities and meet the growing demand for natural gas. This could positively impact investor sentiment and the company's future earnings potential, thus potentially leading to an increase in stock price in the short term.
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