Williams announced on June 30 that it has reached a final investment decision on its clean energy project, the Louisiana Energy Gateway (LEG), which will gather 1.8 Bcf/d of natural gas produced in the Haynesville basin for delivery to premium markets, including Transco, industrial markets and growing LNG export demand along the Gulf Coast.
Williams intends to create opportunities to pursue additional market access projects as well as develop carbon capture and storage infrastructure that will further decarbonize the natural gas value chain. The project is expected to go into service in late 2024.
“The Louisiana Energy Gateway is a key component of our low carbon, wellhead to water strategy, proving up what an important role natural gas can play in reducing emissions, lowering costs and providing secure and reliable energy at home and around the world,” Alan Armstrong, president and CEO of Williams, said in a statement.
“By leveraging our scale, value chain integration and unique capabilities, we are unlocking capacity for Haynesville production growth and facilitating the delivery of next gen gas to meet the climate goals and the energy needs of our customers and our country.”
This announcement further supports Williams’ recently announced partnerships with Context Labs, Encino Environmental and Satlantis, whose technology solutions will be integrated into the project and will enable the measurement of end-to-end, verifiable and transparent emissions data to demonstrate the low carbon benefits of produced and delivered Haynesville natural gas.
Earlier this year, Williams signed a Memorandum of Understanding with Quantum Energy Partners to form a joint venture that will enable Quantum to become an equity investor and partner in the project. The partnership brings together Williams’ expertise as a leading developer and operator of clean energy infrastructure with Quantum’s abilities as a leading global provider of private capital to the responsibly sourced energy and energy transition & decarbonization sectors.
Recommended Reading
Investing ‘Generationally’: The Family Office View of Oil and Gas
2024-07-25 - Key family offices, whose wealth developed from other industries, are filling in oil and gas investment gaps left by the flight of endowment and institutional capital from the space.
Despite Slowing NAM Activity, Weatherford Declares First-ever Dividend
2024-07-24 - Weatherford reported a softer North America market but strong overseas growth, leading the company’s board to authorize its first share buyback program and first quarterly dividend.
Archrock Offers Common Stock to Help Pay for TOPS Transaction
2024-07-23 - Archrock, which agreed to buy Total Operations and Production Services (TOPS) in a cash-and-stock transaction, said it will offer 11 million shares of its common stock at $21 per share.
Talos Ups Buybacks, Pays Down Debt Post $1.29B QuarterNorth Deal
2024-07-22 - Talos Energy said it repaid $325 million in debt since closing its $1.29 billion cash-and-stock acquisition of E&P QuarterNorth in March.
Equinor Subsidiary Contracts Valaris Drillship Offshore Brazil
2024-07-22 - Valaris and Equinor Energy do Brasil’s multi-year contract is valued at approximately $498 million.