Williams Signs New Agreement to Provide Gas Processing in Canada's Oil Sands
Williams (NYSE: WMB) announced today that the company has signed a new long-term gas processing agreement with a producer in the Canadian oil sands.
Under the new long-term agreement, Williams will extract, transport, fractionate, own and market the natural gas liquids (NGLs) and olefins recovered from the offgas at the oil sands producer's upgrader near Fort McMurray, Alberta. Under the agreement, the NGL/olefins recovered are expected to be approximately 12,000 barrels per day (bpd) by mid-2015 and growing to approximately 15,000 bpd by 2018.
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