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Alan Armstrong said the decline in prices hasn’t changed the need for pipelines
Under the deal, Tulsa, Oklahoma-based Williams will bring Oklahoma City-based Access Midstream Partners LP under the Williams Partners LP name.
Williams Cos. and Boardwalk Pipeline Partners LP agreed to develop a pipeline to carry natural gas liquids from booming shale formations in the U.S. Northeast to customers on the Gulf Coast.
Williams Cos. says it has set aside its plans to conduct an initial public offering for its gas exploration and production business because of market weakness. Instead, it will separate itself into two standalone, publicly traded corporations by the end of the year.