A leading master limited partnership, Williams Partners L.P. (WPZ) announced that it delivered a record amount of atural gas on its Transco interstate gas pipeline.
The recent cold weather in markets on the U.S. Eastern Seaboard pushed up the demand. In addition, contribution from the two latest expansion projects of Transco enhanced natural gas transportation capacity by 475,000 dekatherms per day, led to the record transport in December.
On Dec 12, 2013, Transco, the nation’s largest-volume natural gas transmission system, delivered a record-breaking 10.83 million dekatherms in its Zones 4-6 market area stretching from Mississippi to New York City.
The new peak-day mark beat the previous high of 10.5 million dekatherms set on February 17, 2013 for deliveries to those same markets. Another record set by Transco was a three-day market area delivery record for Dec 10–12, averaging 10.47 million dekatherms per day. The record volume of Dec 12 signifies adequate gas to heat about 50 million U.S. homes.
Williams Partners brought online its Northeast Supply Link completely, after commissioning half the capacity three months prior to the schedule to meet the increasing customer demand. The expansion supplies 250,000 dekatherms per day of additional firm natural gas transportation capacity to nearby customers in Pennsylvania, New Jersey and New York from Marcellus supplies direct.
The final phase of the Mid-South Expansion was placed into service in Jun 2013. The project combined with the first phase supplies an incremental 225,000 dekatherms per day of firm natural gas transportation capacity to emerging markets in the Southeast United States.
The company has placed into service 21 Transco growth projects since 2003. These projects, intended to meet customers' demand for power generation, industries and local distribution, have boosted the system capacity by around 55%. Further, Transco’s growth projects worth about $2.2 billion are expected to be commissioned between 2013 and 2017.
Williams Partners carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the oil and gas sector include Harvest Natural Resources Inc. (HNR), Abraxas Petroleum Corp. (AXAS) and Tesco Corp. (TESO). All these stocks hold a Zacks Rank #1 (Strong Buy).
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