Williams Ends Constitution Pipeline Project -- Report
February 21 2020 - 8:13PM
Dow Jones News
--Williams Cos. and its partners are no longer pursuing the
Constitution Pipeline project, according to a report by CNHI that
appeared in the Daily Star of Oneonta, N.Y.
--Williams said in a statement to CNHI that "the underlying risk
adjusted return for this greenfield pipeline project has diminished
in such a way that further development is no longer supported." The
project's other owners are Cabot Oil & Gas Corp., Duke Energy
Corp. and AltaGas Ltd.
--In its fourth-quarter earnings report Wednesday, Williams said
there was a $354 million impairment for the project, of which
Williams' 41% share was $145 million.
https://www.thedailystar.com/news/local_news/energy-giant-backs-out-of-constitution-pipeline/article_9c923154-239f-5201-85ac-84268610351f.html
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
February 21, 2020 19:58 ET (00:58 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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