WMB Received Key Permits for Atlantic Sunrise: Key Highlights
WPZ and WMB in the news
In this article, we’ll look at the recent news on Williams Partners’ (WPZ) operations following Hurricane Harvey and project-related updates. Williams Companies (WMB) is dependent on Williams Partners for distribution income through ownership of the GP (general partner) and limited partnership interest in WPZ.
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Impact of Hurricane Harvey
Williams Partners (WPZ) recently issued a press release about the impact of Hurricane Harvey on the partnership’s operations. According to Williams Partners, its facilities serving oil and gas producers in the Gulf Coast did not suffer any major damage from Hurricane Harvey. However, the partnership saw some throughput volume loss in the region due to the shutdown of offshore production.
On September 6, 2017, WPZ noted that there was ~200 MMcfpd (million cubic feet per day) “of offshore gas supply being shut in by Gulf producers feeding the Transco system.” The partnership expects its offshore production to come online in few days. Its 3Q17 results should give us a clearer picture of the impact of these shutdowns on the partnership’s 3Q17 earnings.
Atlantic Sunrise project
Williams Partners recently announced that its Atlantic Sunrise project had received the necessary approvals from the Pennsylvania DEP (Department of Environmental Protection) and the US Army Corps of Engineers to commence the project. The partnership expects to start construction of the project after receiving the green light from the Federal Energy Regulatory Commission (or FERC).
The Transco expansion project, which would move Marcellus natural gas supplies to the Mid-Atlantic and the Southeastern US, is expected to come online in mid-2018. The partnership received the approval of early mainline service of the project from FERC to commence operations on September 1, 2017.
Rivervale South to Market project
The partnership recently filed an application with FERC for an expansion project—the Rivervale South to Market project—on the Transco pipeline. The related press release noted that the project “would create 190,000 dekatherms per day of firm transportation capacity to northeastern markets in time for the 2019/2020 winter heating season.”