US Williams Partners buys Canada assets from Williams for $1.2bn

03 March 2014 19:53 Source:ICIS News

HOUSTON (ICIS)--Williams Partners has completed its acquisition Canadian assets from Williams for $1.2bn, the US companies announced on Monday.

The deal was originally announced on 26 February.

The assets purchased by Williams Partners includes an Alberta oil sands off-gas processing plant near Fort McMurray, about 260 miles (418km) of natural gas liquids (NGL) and olefins pipelines, and an NGL/olefins fractionation facility and butylene/butane splitter in Redwater.

The Redwater facility is currently being expanded to provide additional fractionation business to Williams Partners related to the development of off-gas processing at the CNRL Horizon upgrader facility retained by Williams, the companies said.

Williams Partners is a master limited partnership focused on logistics. US producer Williams owns about 64% of the partnership.

By Jeremy Pafford