Williams seeking a partner to invest in pipelines for $5 billion
Monday, March 2, 2020
According to an unnamed source, Williams Companies Inc is seeking a partner to invest in a network of its pipelines in the western U.S. The deal could raise close to $5 billion for the company, according to Reuters.
The pipeline partnership would be larger than the joint venture that Williams agreed to last year with the Canada Pension Plan Investment Board in the Marcellus and Utica shale basins. For a 35% stake in the assets, the Canada Pension Plan Investment Board paid $1.33 billion.
The latest collection of pipelines that Williams is offering a stake in transfers hydrocarbons away from oil and gas drilling sites, usually to larger pipelines which reach storage facilities or customers. As with the CPPIB deal, Williams is seeking to remain the operator of the pipelines in its current deal.
Learn more: Reuters > Exclusive: Williams seeks to raise $5 billion by selling stake in pipelines – sources
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