(AOF) – Williams Companies, the American oil pipeline specialist, has reached an agreement to acquire a portfolio of natural gas storage assets from a company affiliated with Hartree Partners for an amount of $1.95 billion. The transaction includes six underground natural gas storage facilities located in Louisiana and Mississippi, with a total capacity of 115 billion cubic feet.
The company would also acquire 230 miles of natural gas pipelines and 30 natural gas pipeline interconnections to attractive markets, including LNG markets, and connections to Transco, the nation’s largest natural gas transmission pipeline.
The acquisition price represents a multiple of approximately 10 times the Ebitda expected for 2024.
“These assets better position Williams’ natural gas storage operations to meet demand for LNG on the Gulf Coast and increasing data center electrification loads along the Transco Corridor,” explained its CEO, Alan Armstrong.
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