Williams Announces Open Season for Transco Pipeline’s Diamond East Project

To Provide Additional 1 billion cubic feet per day of Marcellus natural gas to Northeast Market

TULSA, Okla.--()--Williams (NYSE: WMB) today announced that it is initiating an open season from August 26 to September 23, 2014 for the Diamond East Project, an expansion of the Transco interstate pipeline to provide firm natural gas transportation capacity to markets in the northeastern United States by mid-2018. Transco is a wholly owned subsidiary of Williams Partners, L.P. (NYSE: WPZ), of which Williams owns controlling interests and is the general partner.

The Diamond East Project is being designed to provide up to one billion cubic feet per day of new natural gas transportation capacity from receipt points along its Leidy Line in Lycoming County, Pennsylvania and Luzerne County, Pennsylvania to its Market Pool at Station 210 in Mercer County, New Jersey where it can provide supply diversity to Transco's northeast market, including existing Pennsylvania, New Jersey and New York local distribution companies and power generators.

Diamond East will consist of additional compression and selected pipeline loop segments along the existing Transco pipeline corridor. Although the final capacity, scope and cost of the project will be determined by the results of the open season, it is anticipated that the project will include approximately 50 miles of pipeline looping and horsepower additions at existing Transco compressor facilities. The capital investment for Diamond East is estimated to be between $500 million to $800 million, depending on customer participation and volume commitments.

"Diamond East is another example of Williams' commitment to add critical infrastructure that will connect growing Transco markets to abundant, economically-priced Marcellus production," said Rory Miller, senior vice president of Williams' Atlantic-Gulf Operating Area. "Unlike competing projects designed to serve the New Jersey Market Pool, Diamond East is a cost-effective expansion along an existing Transco corridor.”

The proposed project will be subject to approval by the Federal Energy Regulatory Commission and other agencies. For customer inquiries, contact Jamie Taft at (713) 215-2404.

Diamond East is in addition to the $3.3 billion in capital expenditures planned through 2017 on Transco growth projects designed to serve markets in the Northeast. Transco is the nation’s largest and fastest-growing interstate natural gas transmission pipeline system. It delivers natural gas to customers through its 10,200-mile pipeline network whose mainline extends nearly 1,800 miles between South Texas and New York City. The system is a major provider of cost-effective natural gas services that reach U.S. markets in 12 Southeast and Atlantic Seaboard states, including major metropolitan areas in New York, New Jersey and Pennsylvania.

About Williams (NYSE: WMB)

Williams, headquartered in Tulsa, Okla., is one of the leading energy infrastructure companies in North America. It owns controlling interests in both Williams Partners L.P. and Access Midstream Partners, L.P. (NYSE: ACMP) through its ownership of 100 percent of the general partner of each partnership. Additionally, Williams owns approximately 66 percent and 50 percent of the limited partner units of Williams Partners L.P. and Access Midstream Partners, L.P., respectively.

Williams Partners L.P. owns and operates both on-shore and offshore assets of approximately 15,000 miles of natural gas gathering and transmission pipelines, 1,800 miles of NGL transportation pipelines, an additional 11,000 miles of oil and gas gathering pipelines and numerous other energy infrastructure assets. The partnership's facilities have daily gas processing capacity of 6.6 billion cubic feet of natural gas, NGL production of more than 200,000 barrels per day and domestic olefins production capacity of 1.35 billion pounds of ethylene and 90 million pounds of propylene per year.

Access Midstream Partners, L.P. owns, operates, develops and acquires natural gas gathering systems and other midstream energy assets. Headquartered in Oklahoma City, the partnership's operations are focused on the Barnett, Eagle Ford, Haynesville, Marcellus, Niobrara and Utica Shales and the Mid-Continent region of the U.S.

For more information about Williams, Williams Partners and Access Midstream Partners, visit www.williams.com, www.williamslp.com and www.accessmidstream.com.

Portions of this document may constitute “forward-looking statements” as defined by federal law. Although the company believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the “safe harbor” protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in the company’s annual reports filed with the Securities and Exchange Commission.

Contacts

Williams
Media Contact:
Tom Droege, 918-573-4034
or
Investor Contacts:
John Porter, 918-573-0797
or
Sharna Reingold, 918-573-2078

Release Summary

Williams announces open season on Transco Pipeline's Diamond East Project

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Contacts

Williams
Media Contact:
Tom Droege, 918-573-4034
or
Investor Contacts:
John Porter, 918-573-0797
or
Sharna Reingold, 918-573-2078