22 December 2011 14:55 [Source: ICIS news]
HOUSTON (ICIS)--Williams has agreed to acquire the Laser gas gathering system in the Marcellus Shale basin for about $750m (€578m), the diversified ?xml:namespace>
The Laser system comprises 33 miles of 16-inch natural gas pipeline and associated gathering facilities in
As gas production in the Marcellus increases, the Laser system is expected to reach a capacity of 1.3bn cubic feet/day, Williams said.
"The acquisition of the Laser system continues our strategy of safely and reliably serving producers through large-scale midstream infrastructure in the Marcellus Shale and other basins," said Rory Miller, Williams’ senior vice president, midstream.
Williams expects to close the transaction in first quarter of 2012.
In September, Williams announced plans to expand its cracker at
($1 = €0.77)
For more on Williams and other producers visit ICIS company intelligence
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections