11 April 2013 23:50 [Source: ICIS news]
HOUSTON (ICIS)--Williams Partners and Shell have teamed up on a joint venture to handle infrastructure for production in the Marcellus and ?xml:namespace>
The new venture, called Three Rivers Midstream, has signed a long-term, fee-based dedicated gathering and processing agreement for global oil and gas giant Shell’s production in the area, including about 275,000 acres (111,000 ha), US-based Williams said in a press release.
Three Rivers Midstream also plans to pursue gathering and processing agreements with other producers in northwest
Three Rivers Midstream plans to build a 200m cf/day cryogenic gas processing plant and related facilities at a location to be determined, the company said.
The plant, which will handle both wet gas and dry gas, is expected to be in service by the second quarter of 2015.
The system is expected to be connected to two major proposed developments in
Williams initially will own substantially all of Three Rivers Midstream and operate the assets, with Shell having the right to invest capital and increase its ownership prior to mid-2015, Williams said.
Williams estimates their initial investment into the plant at $150m (€114m). Subsequent capital investment is expected as the joint venture’s business and scale increases, Williams said.
($1 = €0.77)
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