Williams Pipeline Partners LP has filed with the Securities and Exchange Commission to launch an initial public offering (IPO) in 4Q2007. Formed by Tulsa-based Williams, the initial asset of the new partnership will be a 25% stake in Northwest Pipeline GP, which includes a 3,900 mile bi-directional interstate pipeline system that accesses natural gas supplies in the Rocky Mountains, Canada and the San Juan Basin and serves key markets in the Pacific Northwest. It also includes a working natural gas storage capacity of 12.4 Bcf. Williams will continue to own the remaining 75% interest in Northwest Pipeline and Williams employees will continue to operate it. The IPO expects to offer 13 million common units, representing a 53.6% limited partner interest. Following the IPO, a Williams subsidiary will own the 2% general partner interest, all of the incentive distribution rights and a 44.4% limited partner interest.

Canada’s National Energy Board (NEB) approved Alliance Pipeline Ltd.‘s application for the BC Expansion Project (BCX), which is designed to enhance capacity for natural gas receipts originating at the existing Taylor Junction valve site in northeastern British Columbia. Alliance will not increase the mainline capacity of its system with this project, only the ability for existing shippers to increase gas nominations at receipt points in British Columbia. The additional capacity was made available to existing Alliance shippers through a binding open season in October (see Daily GPI, Oct. 6, 2006), and Alliance has entered into contracts with the interested shippers. Start-up is scheduled for November 2008. To facilitate this expansion, Alliance will construct C$30 million of compression and ancillary facilities to increase capacity to receive gas supplies on its Taylor-Aitken Creek lateral system. At the request of the NEB, Alliance will be conducting a second open season at an as-yet undisclosed date to determine any additional interest in this newly approved service.

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