The Overland Pass pipeline, if constructed, is expected to be complete in late 2007 or early 2008 at a cost of less than $500 million. Upon completion, all or some portion of the investment in the pipeline would be a potential candidate for acquisition by Williams Partners L.P. (NYSE: WPZ - News).
Factors currently under review include numerous economic, environmental and regulatory considerations. Any project and subsequent acquisition by Williams Partners L.P. would require approvals by the boards of directors of both Williams Partners L.P.'s general partner and Williams.
Williams and certain of its affiliates own approximately 60 percent of Williams Partners L.P., including common units, subordinated units and its general partner interest.
Williams Partners L.P. primarily gathers, transports and processes natural gas and fractionates and stores natural gas liquids. The general partner is Williams Partners GP LLC.
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