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Williams Pipeline Company profits rise on expansion of pipeline and higher gas fees

Williams Companies, a U.S.-based pipeline operator, reported an increase in its second-quarter profits on Monday. It benefited from increased service revenues and gains related to expansion amid a recovery in natural gas prices.

The U.S. Natural Gas prices have recovered from multi-year lows. This is due to record flows of LNG exports and increasing electricity consumption.

Williams's results were boosted both by the higher fees for fuels transported through its pipelines and revenues from expansions projects and acquisitions. The company operates and owns more than 32,000 miles in pipeline infrastructure.

After a U.S. Court revoked the original approval in 2023, the U.S. Energy regulator reinstated its certificate for Transcontinental Gas Pipeline (Transco) and allowed Williams to continue with the expansion.

The service revenues increased to $2.04bn during the three-month period ended June 30 from $1.84bn a year ago.

Transco's average daily transport volumes of natural gas rose from 12.9 million dekatherms per day to 14 MMdth in the second quarter, compared with the same period in last year.

The company's Transmission & Gulf of America segment reported a 17% increase in natural gas gathering volume, which came to 680 million cubic foot per day during the quarter.

In July,

Chad Zamarin

After retiring longtime CEO Alan Armstrong after 14 years, he took over the position of chief executive officer.

Williams reported a profit for the quarter ending June 30 of $546,000,000 or 45 cents a share. This is up from the $401,000,000 or 33 cents if you compare it to the same period in 2013. (Reporting from Vallari Srivastava, Bengaluru. Editing by Tasim Zaid)

(source: Reuters)