DUK Duke Energy Corp New

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)

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