Williams to Acquire Hartree Partners Natural Gas Storage Assets - RBN Energy
Williams to Acquire Hartree Partners Natural Gas Storage Assets | RBN Energy
Williams announced Wednesday (12/27) it has reached an agreement with Hartree Partners to acquire their portfolio of underground natural gas storage assets. The portfolio includes five storage facilities in Louisiana: Acadia Storage, Cadeville Storage, Perryville Storage, Pine Prairie Energy Center, Southern Pines Energy Center and one in Mississippi, Monroe Storage. The four salt dome facilities (yellow stars on map) combine for 92 Bcf of working gas capacity and the two depleted reservoirs (red triangles on map) total 23 Bcf of working gas capacity. All facilities have an injection capacity of 5 Bcf/d and withdrawal capacity of 7.9 Bcf/d which are among the highest injection/withdrawal rates in the U.S.
The $1.95 billion deal is expected to close in January of next year, 2024.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”