Williams Closes Acquisition of MountainWest Natural Gas Transmission, Storage Business
(P&GJ) — Williams has closed its acquisition of MountainWest Pipelines Holding Company (MountainWest) from Southwest Gas Holdings Inc. in a transaction including $1.07 billion of cash and $0.43 billion of assumed debt, for an enterprise value of $1.5 billion.
RELATED: Williams to Acquire 2,000 Miles of Gas Pipeline from Southwest Gas for $1.5 Billion
MountainWest comprises roughly 2,000-miles of interstate natural gas pipeline systems primarily located across Utah, Wyoming and Colorado, totaling approximately 8 Bcf/d of transmission capacity. MountainWest also operates 56 Bcf of total storage capacity, including the Clay Basin underground storage reservoir, providing valuable service to western markets.
“Our natural gas focused strategy is anchored in having the right assets in the right places to serve our nation’s growing demand for clean, affordable and abundant natural gas. This acquisition enhances our position in the western U.S. and is complementary to our current footprint, providing us with infrastructure for natural gas deliveries across key demand markets,” Alan Armstrong, Williams president and CEO, said.
With the acquisition of MountainWest, Williams expands its infrastructure network and increases its business mix of FERC-regulated natural gas transmission and storage. The acquisition expands Williams’ services to key Rockies markets, including natural gas delivery into Salt Lake City and other demand markets not previously served by Williams.
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