Energy Transfer Equity, Williams announce merger agreement

Energy Transfer Equity LP and Williams Cos. Inc. plan to merge through a $37.7 billion transaction that will form the third-largest energy franchise in North America, the companies announced.

“As a combined company, we will have enhanced prospects for growth, be better able to connect our customers to more diverse markets and have more stability in an environment of low commodity prices,” says Alan Armstrong, president and CEO of Williams, in a press release.

Williams also says it will retain its current name and remain a publicly traded partnership headquartered in Tulsa, Okla.

Energy Transfer Equity’s family of companies owns and operates about 71,000 miles of natural gas, natural gas liquids, refined products and crude oil pipelines. Williams Partners is a master limited partnership with a number of natural gas operations, including gathering, processing and the interstate transportation of natural gas and natural gas liquids.