Williams Pipeline Files Registration for IPO

Williams Pipeline Partners L.P. has filed a registration statement with the Securities and Exchange Commission relating to a proposed underwritten IPO.
Williams Pipeline Partners was formed to own and operate natural gas transportation and storage assets. The initial asset of the new partnership will be a 25 percent interest in Williams’ Northwest Pipeline GP.
Northwest Pipeline includes a 3,900-mile interstate pipeline system that accesses natural gas supplies in the Rocky Mountains, Canada and the San Juan Basin and serves markets in the Pacific Northwest; it also includes a working natural gas storage capacity of approximately 12.4 billion cubic feet.
Williams Pipeline Partners anticipates offering 13 million common units in the IPO, representing a 53.6 percent limited partner interest. Following this offering, a subsidiary of Williams will own the 2 percent general partner interest, all of the incentive distribution rights, and a 44.4 percent limited partner interest in Williams Pipeline Partners.
Williams intends to list the units on the New York Stock Exchange under the symbol “WMZ.”

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