Williams Ends Constitution Pipeline Project -- Update
February 22 2020 - 12:41AM
Dow Jones News
By Josh Beckerman
Williams Cos. and its partners are no longer pursuing the
Constitution Pipeline project.
Williams said in an email that "while Constitution did receive
positive outcomes in recent court proceedings and permit
applications, 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.
News of the pipeline decision was reported earlier by CNHI.
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.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
February 22, 2020 00:26 ET (05:26 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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