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For more than 30 years, Cabling Installation & Maintenance has provided useful, practical information to professionals responsible for the specification, design, installation and management of structured cabling systems serving enterprise, data center and other environments. These professionals are challenged to stay informed of constantly evolving standards, system-design and installation approaches, product and system capabilities, technologies, as well as applications that rely on high-performance structured cabling systems. Our editors synthesize these complex issues into multiple information products. This portfolio of information products provides concrete detail that improves the efficiency of day-to-day operations, and equips cabling professionals with the perspective that enables strategic planning for networks’ optimum long-term performance.

Throughout our annual magazine, weekly email newsletters and 24/7/365 website, Cabling Installation & Maintenance digs into the essential topics our audience focuses on.

  • Design, Installation and Testing: We explain the bottom-up design of cabling systems, from case histories of actual projects to solutions for specific problems or aspects of the design process. We also look at specific installations using a case-history approach to highlight challenging problems, solutions and unique features. Additionally, we examine evolving test-and-measurement technologies and techniques designed to address the standards-governed and practical-use performance requirements of cabling systems.
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Williams Announces Acquisition of Strategic Gulf Coast Natural Gas Storage Portfolio with Direct Access to LNG Export Facilities and Interstate Pipelines

  • Six natural gas storage facilities with total capacity of 115 Bcf across Louisiana and Mississippi
  • Highly contracted business with diverse customer base including investment-grade utilities, interstate pipelines, LNG terminals and natural gas marketers
  • Strategically located to take advantage of strong LNG and power demand fundamentals that are forecasted to drive earnings growth

Williams (NYSE: WMB) today announced that it 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 transaction includes six underground natural gas storage facilities located in Louisiana and Mississippi with total capacity of 115 billion cubic feet (Bcf), as well as 230 miles of gas transmission pipeline and 30 pipeline interconnects to attractive markets, including LNG markets, and connections to Transco, the nation’s largest natural gas transmission pipeline. The acquisition price represents an approximate 10x estimated 2024 EBITDA multiple.

“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 Chief Executive Officer Alan Armstrong. “These assets better position Williams’ natural gas storage operations to serve Gulf Coast LNG demand and growing electrification loads from data centers along the Transco corridor. Importantly, this storage will also allow us to provide value to customers in markets with growing renewables adoption as daily peaks for natural gas increases the need for storage. Since 2010, U.S. demand for natural gas has grown by 56% while gas storage capacity has only increased 12%. We expect the increasing demand for high deliverability storage to drive significant earnings growth across these assets.”

The six natural gas storage facilities include four salt domes with combined capacity of 92 Bcf and two depleted reservoirs with combined capacity of 23 Bcf. The facilities have injection capacity of 5 Bcf/d and withdrawal capacity of 7.9 Bcf/d, among the highest of any natural gas storage platform in the United States. Two of the facilities, Pine Prairie and Southern Pines, are directly connected with Transco and are well positioned for expansions.

The transaction is expected to close in January 2024, following satisfaction of customary closing conditions, including the expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

Advisors

BofA Securities served as financial advisor to Williams; Davis Polk & Wardwell LLP served as legal advisor to Williams. Evercore served as lead financial advisor and Wells Fargo Securities, LLC served as financial advisor to Hartree; Milbank LLP served as legal advisor to Hartree.

About Williams

Williams (NYSE: WMB) is a trusted energy industry leader committed to safely, reliably, and responsibly meeting growing energy demand. We use our 33,000-mile pipeline infrastructure to move a third of the nation’s natural gas to where it's needed most, supplying the energy used to heat our homes, cook our food and generate low-carbon electricity. For over a century, we’ve been driven by a passion for doing things the right way. Today, our team of problem solvers is leading the charge into the clean energy future – by powering the global economy while delivering immediate emissions reductions within our natural gas network and investing in new energy technologies. Learn more at www.williams.com.

Portions of this document may constitute “forward-looking statements” as defined by federal law. Although Williams believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the “safe harbor” protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in Williams’ annual and quarterly reports filed with the SEC.

Contacts

MEDIA:

media@williams.com

(800) 945-8723

INVESTOR CONTACT:

Danilo Juvane

(918) 573-5075

Caroline Sardella

(918) 230-9992

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