Williams To Acquire Natural Gas Storage Assets From Affiliate Of Hartree Partners

(RTTNews) - Williams (WMB) has reached an agreement to acquire a portfolio of natural gas storage assets from an affiliate of Hartree Partners LP for $1.95 billion. The deal includes six underground natural gas storage facilities located in Louisiana and Mississippi with total capacity of 115 billion cubic feet, as well as 230 miles of gas transmission pipeline and 30 pipeline interconnects.

"This premier natural gas storage platform on the Gulf Coast fits squarely within our strategy to own and operate the best assets connected to the best markets to serve growing demand driven by LNG exports and power generation," said Williams President and CEO Alan Armstrong.