Williams Partners LP has agreed to acquire the Laser Northeast Gathering System and other midstream businesses from Delphi Midstream Partners LLC for about $750 million. Laser is composed of 33 miles of 16-inch diameter gas pipeline and associated gathering facilities in Susquehanna County, PA, as well as 10 miles of gathering pipeline in southern New York. The acquisition is supported by existing long-term gathering agreements that provide acreage dedications and volume commitments. As production in the Marcellus Shale increases, the Laser system is expected to reach a capacity of 1.3 Bcf/d, said Williams Partners, which plans to fund the purchase with $300 million in cash and 7.5 million common units. The deal, which the partnership said it earlier was pursuing (see Shale Daily, Dec. 5), is subject to customary regulatory approvals.
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