Williams Partners to explore monetising Geismar facility

09 Sep '16

1 min read

Williams Partners has initiated a process to explore monetising its indirect ownership interest in the Geismar, Louisiana olefins plant and complex, resulting in either sale, or a fee-for-service tolling agreement. Williams Partners currently holds around 88.5 per cent stake in the Geismar olefins plant and is also the operator of the facility.

The Geismar plant is a predominantly ethane-fed, light-end natural gas liquids cracker and in 2015, Williams Partners began commercial production of the expanded ethylene capacity raising it by 600 million pounds per year.

This expansion led to a total production of 1.95 billion pounds of ethylene and 114 million pounds of propylene per year.

“We believe the potential monetisation of this asset would create significant value for Williams Partners and our decision to explore alternatives with respect to the Geismar olefins plant is consistent with Williams' strategy to narrow its focus and allocate capital to its strong core, natural gas-focused business,” CEO Alan Armstrong said. (AR)

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