Williams to Acquire Gulf Coast Natural Gas Storage Portfolio

December 29, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--Oil and gas pipeline developer Williams Companies Incorporated (NYSE:WMB) (Tulsa, Oklahoma) has reached an agreement to acquire a portfolio of natural gas storage assets along the U.S. Gulf Coast from Hartree Partners (New York, New York) for $1.95 billion. The portfolio includes six underground natural gas storage facilities in Louisiana and Mississippi, as well as 230 miles of gas transmission pipeline and 30 pipeline interconnects, that will help meet liquefied natural gas (LNG) demand on the Gulf Coast and power data centers along Williams' Transcontinental (Transco) interstate pipeline network.