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:

To view this content, log into your member account. (Not a member? Join Today!)