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Energy Transfer Equity merges with Williams

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LNG Industry,

In a deal worth US$37.7 billion, the owner of the Lake Charles LNG project, Energy Transfer Equity (ETE), has announced that it will merge with LNG pipeline operator, Williams (WMB). This includes approximately US$4.6 billion of debt gained by WMB, and follows the termination of the former agreement between WMB and Williams Partners (WPZ).

The deal was agreed by the board of directors from both companies and states that Energy Transfer Corp., an affiliate company of Energy Transfer Equity, will acquire each share from Williams at a cost of US$43.50.

Edited from various sources by David Rowlands

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