Enterprise withdraws interest in combining with Williams
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Enterprise withdraws interest in combining with Williams

9:57 AM, 9th September 2016
Enterprise withdraws interest in combining with Williams

HOUSTON, US: Enterprise Products Partners LP said it has withdrawn its indication of interest in The Williams Companies Inc, regarding the possible combination of Enterprise and Williams.

“After extensive analysis of public information regarding Williams, we submitted non-binding proposals to Williams to combine Williams and Enterprise. As a result of rumours with respect to our proposals, as well as the lack of engagement by Williams, we have determined that there is no actionable path forward toward an agreement. We, therefore, have withdrawn our non-binding proposals. We will maintain our financial discipline as we pursue future growth opportunities for the partnership,” stated A J “Jim” Teague, chief executive officer of Enterprise’s general partner.

Enterprise Products Partners LP is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. The partnership’s assets include approximately 49,000 miles of pipelines; 250 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity, it said.

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