The Federal Energy Regulatory Commission has given the Oklahoma pipeline company Williams permission to begin service on an expansion project supporting two liquefied natural gas terminals along the Texas Gulf Coast.
Two months after Energy Transfer Equity LP walked away from a $33 billion deal to take over its pipeline rival, another possible buyer, Enterprise Products Partners LP, said it’s no longer interested in Williams either.
Less than two months after failing to oust Williams Cos.’s CEO and resigning as a director for the company, activist investor Keith Meister is broadening his attack on the pipeline giant. Now, he wants the entire board replaced.
Inter Pipeline Ltd. has agreed to acquire the Canadian assets of Williams Cos. for C$1.35 billion ($1 billion), betting that a rebound in commodity prices will justify the expansion of its natural-gas liquids business.
Pipeline company Energy Transfer Equity (ETE) is set to buy Williams Cos in a deal worth $37.7billion. Williams Investors will get $43.50 per share either in cash or stock of Energy Transfer Corp. The potential deal first became public knowledge in June when Williams had rejected an offer from ETE which is said was too low.
A natural gas liquids pipeline has been shut after it went on fire in Colorado. Williams Companies said the incident occurred after the six-inch wide pipeline was struck by a third-party conduction excavation. No one was injured following the fire which was being monitored by the fire department.