Williams halts investment in Bluegrass NGL pipeline

Source:Williams

Williams (NYSE:WMB) has suspended capital investments in the Bluegrass Pipeline, a proposed natural-gas-liquids project, primarily in response to an insufficient level of firm customer commitments. The company continues to engage in discussions with potential customers regarding the scale and timing of demand for services and the required firm contractual commitments that would support any future capital investments.

The project, in which Williams is a joint-venture partner, is designed to connect natural gas liquids produced in the Marcellus-Utica areas in the U.S. Northeast with domestic and export markets in the U.S. Gulf Coast. The Bluegrass Pipeline represents a strong long-term solution in the marketplace.

Williams has a large, diverse portfolio of attractive risk-return growth opportunities. It continues to exercise capital discipline as it pursues projects that garner solid market support, strengthen its cash-flow growth and deliver advantaged connections between large supply areas and growing demand centers.

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