Williams Plans $2.1B Transco Pipeline Expansion, 100% Sold Already
Amidst the bad news for Williams last week that the company is being targeted by corporate raiders (see Evil Corporate Raiders Double Investment (& Control) in Williams), was a little bright spot of good news. The company announced they plan to expand the Transco pipeline carrying cheap Marcellus Shale gas (mostly from PA) to the Eastern Seaboard–what they call the Atlantic Sunrise Expansion of the Transco. The good news is that nine drillers have signed binding contracts, already sopping up 100% of the planned 1.7 million dekatherms of expansion. The new customers were not named in the announcement.
Williams plans to spend $2.1 billion on the expansion. They will file a request with the Federal Energy Regulatory Commission (FERC) in March to get permission to…file a pre-filing. Yeah, it’s complicated–but that’s life in the midstream. Here’s the announcement from Williams: