TULSA, Okla., Jan. 4, 2002 — A unit of Williams announced today that it has completed the initial phase of a south Texas asset sale to a Houston-based subsidiary of Enbridge Inc.
In October, Enbridge agreed to purchase south Texas natural gas gathering, treating and transmission assets from Williams for approximately $50 million.
The first part of the closing covers 298 miles of gas gathering lines, a sour gas treatment plant near Tilden, Texas, and an inactive gas processing plant in Bee County, Texas.
The remainder of the sale, expected to close in third-quarter 2002, includes 492 miles of Transco transmission lines in far southern Texas that are regulated by the Federal Energy Regulatory Commission.
Alan Armstrong, vice president of gathering and processing for Williams, said, “The sale allows us to focus on our core midstream growth areas throughout the Rockies, Canada and offshore Gulf of Mexico.”
Williams, through its subsidiaries, connects businesses to energy, delivering innovative, reliable products and services. Williams information is available at http://www.williams.com .
Enbridge Inc. is a specialist in energy transportation, distribution and services in North America and internationally. Information about Enbridge Inc. is available at http://www.enbridge.com .