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Thursday, November 21, 2013

William Partners gets FERC OK for Transco pipeline expansion, (NYSE: WPZ)

Williams Partners LP said it received federal approval to expand Transco, the nation's largest natural gas pipeline system, to serve Dominion Resources Inc's new 1,358-megawatt gas power plant in Virginia. The approval from Federal Energy Regulatory Commission for Transco's $300 million expansion would serve Dominion's unit in Brunswick County and help replace generating capacity from retiring coal-fired plants.Of the total expanded capacity, more than 90 percent will serve Dominion Virginia Power's new power plant. The rest will serve Piedmont Natural Gas Company's local distribution business in North Carolina.The Virginia Southside Expansion is part of $2.2 billion of Transco growth projects that Williams Partners plans to bring into service by 2017.The Transco pipeline is a 10,200 mile-long line that has a current system capacity of about 10.15 million dekatherms per day (dth/d), which is enough natural gas to serve the equivalent of more than 42 million homes.

Williams Partners L.P. focuses on natural gas transportation; gathering, treating, and processing; storage; natural gas liquid (NGL) fractionation, and oil transportation. Shares of WPZ traded higher by 1.05% or $0.52/share to $50.18. In the past year, the shares have traded as low as $45.01 and as high as $54.66. On average, 637057 shares of WPZ exchange hands on a given day and today's volume is recorded at 698185.