Williams Partners L.P. (WPZ) got a nod from the Federal Energy Regulatory Commission (FERC) for the expansion of its Transco natural gas pipeline to serve evolving markets in the Mid-Atlantic region.
The Mid-Atlantic Connector expansion project is slated to be operational by November next year, with 142,000 dekatherms (1.38 billion cubic feet) of additional transportation capacity to serve the regional market.
The expansion, which will cost about $55 million, involves approximately three miles of new pipeline and the upgrade of compressor facilities in Virginia. The project was planned with the main aim of connecting the Transco pipeline with East Tennessee Natural Gas in Rockingham County for power generation and local distribution. Upon completion, it will meet the growing demand for clean energy in this fast developing region.
The 10,000-mile Transco currently has a capacity of about 9.6 million dekatherms (9.3 billion cubic feet) per day and serves the Southeast, Mid-Atlantic and Northeast markets.
Williams Partners is an energy master limited partnership engaged in the gathering, transportation, treating, and processing of natural gas as well as fractionation and storage of natural gas liquids. We believe William Partners is well positioned for future growth, owing to its geographically diverse assets, a sizable project backlog as well as its sound distribution history.
The partnership’s gas pipeline and midstream businesses continue to progress on a number of ongoing organic expansion projects, along with major growth initiatives in the Gulf of Mexico over the next two years. The general partner is owned and managed by Williams Companies Inc. (WMB).
Williams Partners, which retains a Zacks #4 Rank (short-term Sell rating), competes with Enterprise Products Partners LP (EPD) and Kinder Morgan Energy Partners, L.P. (KMP).
ENTERPRISE PROD (EPD): Free Stock Analysis Report
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WILLIAMS COS (WMB): Free Stock Analysis Report
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