- Associated Press - Tuesday, February 3, 2015

TULSA, Okla. (AP) - Tulsa-based Williams Companies Inc. has announced the completion of the merger of natural gas pipeline companies Williams Partners LP and Access Midstream Partners LP.

The merger announced Monday completes a $6 billion transaction that began when Williams acquired control of Oklahoma City-based Access Midstream Partners last summer.

The Tulsa World reports (https://bit.ly/1CW5m2W ) that under terms of the deal, Williams Partners merged into Access Midstream, but Access is changing its name to Williams Partners.

Williams Partners will gather and process nearly 19 billion cubic feet of natural gas per day in the United States and Williams said the new company will transport about 20 percent of all U.S. natural gas that is moved daily. The merger was named “Deal of the Year” by the Global Energy Awards in New York.

“The new Williams Partners generates additional strength in our business, more opportunities for our customers and increased value for our investors,” the CEO of both companies, Alan Armstrong, said in a statement that.

The new company expects annual earnings to be about $5 billion from natural gas transportation.


Information from: Tulsa World, https://www.tulsaworld.com

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