Williams Buys Natural Gas Pipeline, Storage Assets In Dallas-Fort Worth Metroplex

(RTTNews) - Williams (WMB), on Thursday, announced the acquisition of NorTex Midstream, a fully contracted natural gas pipeline and storage asset located in north Texas, from an affiliate of Tailwater Capital.

The $423 million transaction, which closed on August 31, 2022, includes about 80 miles of natural gas transmission pipelines and 36 Bcf of natural gas storage in the Dallas-Fort Worth market. The NorTex assets provide critical service to about 4 GW of gas fired power generation, enabling Texas energy providers to meet peak demands.

In addition to providing critical gas supply to power generation in north Texas, these assets also position Williams to provide storage services for Permian gas directed toward growing Gulf Coast LNG demand.