US Williams closes $2.5bn acquisition of Caiman Eastern Midstream

30 April 2012 16:52  [Source: ICIS news]

HOUSTON (ICIS)--Williams Partners has completed its $2.5bn (€1.9bn) acquisition of Caiman Eastern Midstream, a subsidiary of Caiman Energy, the US-based pipeline and olefins producer said on Monday.

The acquisition gives Williams access to natural gas liquids (NGLs) in the Marcellus Shale.

Caiman Eastern Midstream owns a gathering system, two processing facilities and a fractionator. In addition, Caiman Eastern Midstream plans to expand all three operations as well as build an ethane pipeline.

The acquisition also serves as the anchor for Williams’s new Ohio Valley Midstream business, which operates in north West Virginia, southwest Pennsylvania and east Ohio, the company said.

“Work is under way to expand the existing physical assets, which include a gathering system and a processing facility,” Williams said. “In addition, construction is underway on fractionation and additional processing facilities and there are plans to construct natural gas liquid [NGL] pipelines.”

Additionally, Williams and Caiman Energy still have plans for a joint venture (JV) to develop midstream infrastructure in the Utica Shale.

($1 = €0.76)

By: Bobbie Clark
+1 713 525 2653

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