Williams has completed its acquisition of Momentum Midstream's Haynesville platform, adding more than 4,000 miles of pipe, over 1 million dedicated acres and 6 Bcf/d of gathering capacity to its position in the basin. Gathering pipelines carry gas from individual wells to processing and treating plants before it moves into larger transportation lines.
The deal also brings multiple processing and treating facilities and three take-or-pay pipelines with a combined 4.05 Bcf/d of transportation capacity, according to Williams Companies (NYSE: WMB). Take-or-pay contracts require a shipper to pay for a set amount of pipeline capacity whether or not it uses all of it, which gives the pipeline owner steady revenue.
A premier Haynesville position
Williams said the acquisition expands its footprint in what it called the nation's fastest growing natural gas supply basin. The company said the deal gives it "a premier Haynesville position" that supports rising LNG, power and industrial demand along the Gulf Coast.
Room for more
Williams said the acquisition also creates opportunities for further expansion in the basin, beyond two projects it has already announced.
About Williams
Williams' broader midstream network delivers about one third of the nation's natural gas, the company said, supplying gas used to heat homes and power electricity generation.
