Yahoo Finance Williams Receives FERC Nod to Gulf Connector Expansion
The Williams Companies, Inc. WMB recently received green signal from the Federal Energy Regulatory Commission (FERC) of the United States to commence full service on the Gulf Connector Expansion Project. This provided the company the opportunity to ship 475,000 dekatherm gas per day (Dt/d) through the Transco pipeline system in Texas and Louisiana.
The project is expected to support Cheniere Energy, Inc.’s LNG liquified natural gas export terminal at Corpus Christi bay and Freeport LNG’s terminal at Brazoria County, TX. Both Cheniere and Freeport have plans to bring their LNG export terminals in Texas online, in a bid to offer commercial services within 18 months.
The approval from the FERC marks a significant landmark for Williams, as midstream asset developers in the United States are trying hard to connect their existing networks to the expanding natural gas export markets. The demand for liquified natural gas is expected to grow rapidly in 2019, as the search for cleaner energy sources is still on.
Williams expects the project to benefit producers in the United States, where natural gas is produced in abundance. Recent expansion work, including the installation of three new compressor stations in Wharton, Victoria and San Patricio counties, boosted shipping capacity along the Transco pipeline.
Price Performance
Tulsa, OK-based Williams has lost 30.6% in the past year compared with 20.7% fall of the industry it belongs to.
Zacks Rank & Stocks to Consider
Williams currently has a Zacks Rank #3 (Hold). If you are interested in the energy sector, you can opt for some better-ranked stocks as given below:
Houston, TX-based Shell Midstream Partners, L.P. SHLX is a midstream energy company. For 2019, its bottom line, which has witnessed three upside revisions over the past 60 days, is expected to grow 27.7% year over year. The company currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Calgary, Canada-based Gran Tierra Energy Inc. GTE is an international oil and gas exploration and production company. Its bottom line for 2018 is expected to surge more than 300% year over year. The company delivered a positive average earnings surprise of 24% in the trailing four quarters. The stock currently has a Zacks Rank #2 (Buy).
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Williams Companies, Inc. (The) (WMB) : Free Stock Analysis Report
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