Williams Ends Constitution Pipeline Project -- Report

--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)

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