Dallas-based Energy Transfer Equity, owner of the Lake Charles LNG project, said it is buying pipeline operator Williams in a deal valued at $37.7 billion.
This announcement follows the termination of the previously agreed merger between The Williams Companies and Williams Partners.
The business combination between the two companies was approved by the boards of directors of both entities, Energy Transfer said in a statement on Monday.
The combination will create “the third largest energy franchise in North America by combining two of the largest diversified MLPs, the second largest crude and logistics MLP, a fast-growing retail fuel MLP and an attractive LNG export opportunity,” Energy transfer added.
Under the terms of the transaction, Energy Transfer Corp, an affiliate of ETE, will acquire Williams at an implied current price of $43.50 per share.
LNG World News Staff