Williams Completes Sale of Several Gulf Coast Pipeline Systems
12/7/2018
Williams announced the sale of certain pipeline systems located in the Gulf Coast area to Easton Energy for $177 million in cash. The 31-mile Texas Belle Pipeline, which transports natural gas liquids from Mont Belvieu to the Houston Ship Channel, is included in this transaction as are the Purity Pipeline System, certain assets in the Live Oak Pipeline System and additional idle pipelines located along the Gulf Coast.
Proceeds from the transaction will contribute to funding Williams’ growth capital and investment opportunities, the company said. Williams’ previous 2019 guidance is not affected by this transaction.
“We continue to assess and execute on opportunities to optimize our portfolio,” said Williams Senior Vice President for Corporate Strategic Development Chad Zamarin. “We’re pleased to be able to leverage these assets, which were not core to our business strategy, into a source for growth capital and a driver for improved credit metrics.”
After the transaction, Williams’ Atlantic-Gulf business segment still included 506 miles of purity product pipelines.
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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