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Williams (WMB) Declares FID on Louisiana Energy Gateway Project

Zacks Equity Research
·3-min read

The Williams Companies WMB recently announced that it has made the final investment decision (“FID”) on the Louisiana Energy Gateway, a clean energy project. The project will collect about 1.8 billion cubic feet per day (Bcf/d) of natural gas produced in the Haynesville Basin for supply to premium markets, such as Transco, industrial markets and the rising LNG export demand along the Gulf Coast.

The Tulsa, OK-based pipeline operator stated that it aims to create additional investment prospects for carbon capture and storage (“CCS”) and follow-on projects for bigger LNG market access via this project.

The project is anticipated to go into service in late 2024.

The Louisiana Energy Gateway Project’s announcement further backs the company’s recently declared collaboration with Context Labs, Encino Environmental and Satlantis, whose technology solutions will be integrated into the project and thus will allow the measurement of end-to-end, verifiable and transparent emissions data to validate the low-carbon benefits of the natural gas produced and delivered by Haynesville.

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The President and CEO of Williams, Alan Armstrong, mentioned how this project is a crucial component of the company’s low-carbon, wellhead to water strategy, proving natural gas’ vital role in reducing emissions, lowering costs and providing a secure and reliable energy source. “By leveraging our scale, value chain integration and unique capabilities, we are unlocking capacity for Haynesville production growth and facilitating the delivery of next gen gas to meet the climate goals and the energy needs of our customers and our country,” he ended.

Through this project, Williams will offer “an infrastructure solution that integrates real time emissions monitoring and emissions reduction strategies,” stated Chad Zamarin, senior vice president, corporate strategic development for WMB. The project is positioned to incorporate CCS as a further decarbonizing solution for natural gas production in the play, he added.

Earlier this year, Williams signed a Memorandum of Understanding with Quantum Energy Partners to create a joint venture, allowing Quantum to become an equity investor and partner in the project.

Founded in 1908, The Williams Companies, Inc. is a premier energy infrastructure provider in North America. WMB’s core operations include finding, producing, gathering, processing and transporting natural gas and natural gas liquids. Boasting a widespread pipeline system of more than 33,000 miles of pipelines, Williams is one of the largest domestic transporters of natural gas by volume.

Williams currently has a Zacks Rank #3 (Hold). Some better-ranked stocks from the energy space that warrant a look include Marathon Petroleum MPC, Enerplus ERF and Valero Energy VLO, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Marathon Petroleum beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being around 65%.

The Zacks Consensus Estimate for MPC’s 2022 earnings is projected at $14.57 per share, up approximately 494.7% from the projected year-ago earnings of $2.45.

The Zacks Consensus Estimate for Enerplus’ 2022 earnings has been revised 28.3% upward over the past 60 days.

The Zacks Consensus Estimate for ERF’s 2022 earnings is projected at $3.31 per share, up about 241.2% from the projected year-ago earnings of 97 cents.

The Zacks Consensus Estimate for Valero’s 2022 earnings is projected at $17.18 per share, up about 511.4% from the projected year-ago earnings of $2.81.

VLO beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being around 84.3%.


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