Williams Partners LP is selling all of its interest in Williams Olefins LLC, which owns an 88.46% stake in the Geismar, LA, olefins plant and associated complex, to Nova Chemicals for $2.1 billion in cash.
Articles from Williams
Williams Partners LP has completed a deal that boosts its ownership interest in two Marcellus Shale natural gas gathering systems in northern Pennsylvania with a combined throughput of 1.6 Bcf/d.
The Keystone State is currently seen by Williams CEO Alan Armstrong as the most significant regulatory piece yet to fall into place for Transcontinental Gas Pipeline’s (Transco) Atlantic Sunrise project.
Williams Partners LP said late Thursday that it would increase its ownership stake in two Marcellus Shale natural gas gathering systems in northern Pennsylvania through an exchange of Permian Basin assets and a $155 million cash payment from Western Gas Partners LP.*
FERC late on Friday approved Williams Partners’ Atlantic Sunrise project, delivering a last minute gift to producers in the Marcellus Shale’s northern tier before the Commission is left without a quorum as Commissioner Norman Bay was scheduled to resign at the end of the day.
Williams (WMB) and Williams Partners LP (WPZ) Monday afternoon said they have agreed to an incentive distribution rights (IDR) waiver transaction worth about $11.4 billion, bolstering WPZ’s credit rating and lowering its cost of capital. WMB also said it has identified further noncore assets to be sold and announced a public offering of 65 million common shares.
Williams/Williams Partners LP process to sell or find a tolling agreement for its Geismar, LA, olefins plant is in full swing. Meanwhile, adjustments have been made to the schedule for the Atlantic Sunrise project to accommodate a regulatory delay, CEO Alan Armstrong told analysts during a conference call Monday.
Williams Partners LP is delaying the target in-service date for its Atlantic Sunrise expansion project to mid-2018, with partial service on the project starting in late 2017, it said Friday.
A jury in Iberville Parish, LA, has awarded a total of $13.6 million to four men who were injured in a June 2013 explosion and fire at Williams’ Geismar, LA, olefins plant. Williams said it will appeal the verdict.
Companies never like to comment on “rumors or speculation,” but sometimes all the gossip can be too much for a multi-billion-dollar organization to bear. Enterprise Products Partners LP and Williams are an example.