Williams Secures Key Permits for Northeast Supply Enhancement Project

TULSA, Okla.--(BUSINESS WIRE)-- Williams (NYSE: WMB) announced today a significant regulatory milestone for its Northeast Supply Enhancement (NESE) project, securing the Clean Water Act Section 401 and 404 permits from the New Jersey Department of Environmental Protection (NJDEP) as well as the Section 401 Water Quality Certification and related permits from the New York State Department of Environmental Conservation (NYSDEC).

The NESE project is designed to improve energy affordability and reliability in New York City by expanding access to critical natural gas infrastructure and displacing high-emitting and costly fuel oil, which is delivered into New York City by diesel trucks. NESE will enhance energy security, lower costs, and reduce emissions, and the project is expected to generate over $1 billion in investment, create thousands of construction-related jobs, and deliver long-term benefits to New York residents and commercial energy users.

“We’re proud to move NESE forward and do our part in providing New Yorkers access to clean, reliable and affordable natural gas,” said Chad Zamarin, president and CEO of Williams. “This project reflects our commitment to deliver clean and reliable energy, while lowering energy costs and supporting economic growth and environmental stewardship.”

In parallel, Williams continues to advance the Constitution Pipeline project, a pipeline in upstate New York that will serve markets in New York, Massachusetts, Connecticut, Rhode Island, Vermont and Maine. The company has withdrawn its current water permit application with NYSDEC and is preparing to follow up with additional filings to ensure that this critical infrastructure project obtains the regulatory approvals needed for construction and operation.

“There is increasing recognition that energy affordability directly impacts everyday affordability,” said Zamarin. “Natural gas is one of our nation’s lowest-cost resources, with U.S. natural gas produced at a cost equivalent to less than 50 cents per gallon of gasoline. Expanding natural gas infrastructure is vital to lowering costs and increasing economic opportunity, and the NESE and Constitution projects are important to connecting energy to opportunity in the Northeast.”

Background

The NESE project is designed to meet market needs of New York, providing $1.8 billion in economic development, delivering gas to 2.3 million homes, and reducing CO2 emissions by over 13,000 tons per year; equivalent to removing 2,800 cars from the road each year. NESE also supports over 3,000 jobs and generates millions in gross state product (GSP) and state tax revenues for the state. During the construction phase of the project, the state of New Jersey will experience an increase in economic activity, including direct and indirect job creation and an increase in state and local tax revenue.

Constitution is designed to provide low-cost, low-emissions energy supply to the Northeast to support economic growth and energy affordability across the region. According to a new S&P Global study, Constitution would generate up to $11.6 Billion in total savings by lowering natural gas prices in the Northeast and support nearly 2,000 jobs annually over a 15-year period. The study also finds that energy savings from the pipeline could stimulate up to $4.4 billion in additional GSP across Connecticut, Massachusetts, New York, and Rhode Island and could generate $432 million in federal and state tax revenues.

About Williams

Williams (NYSE: WMB) is a trusted energy industry leader committed to safely, reliably, and responsibly meeting growing energy demand. We use our infrastructure to deliver one third of the nation’s natural gas to where it's needed most, supplying the energy used to heat our homes, cook our food and generate low-carbon electricity. For over a century, we’ve been driven by a passion for doing things the right way. Today, our team of problem solvers is leading the charge into the clean energy future. Learn more at www.williams.com.

Portions of this document may constitute “forward-looking statements” as defined by federal law. Although Williams believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the “safe harbor” protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in Williams’ annual and quarterly reports filed with the SEC.

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Source: Williams