TULSA, Okla., Nov. 15 Williams announced that it has completed the sale of its Central natural gas pipeline to Southern Star Central Corp., an affiliate of AIG Highstar Capital, L.P. Williams received $380 million cash and Southern Star also assumed $175 million in debt.
“We are using transactions like this to work our way through challenging times,” said Steve Malcolm, Williams’ chairman, president and chief executive officer. “We are delivering on our plan to reduce debt and improve liquidity.”
The 6,000-mile Central Pipeline transports natural gas from Kansas, Oklahoma, Texas, Wyoming and Colorado to markets in the Midwest.
Williams is the nation’s second largest interstate natural gas pipeline operator. Williams’ subsidiaries wholly own and operate 20,400 miles of interstate natural gas pipeline, comprised of the Transco, Northwest and Texas Gas systems.
Williams moves, manages and markets a variety of energy products, including natural gas, liquid hydrocarbons, petroleum and electricity. Based in Tulsa, Okla., Williams’ operations span the energy value chain from wellhead to burner tip. Company information is available at www.williams.com .