The reliability of natural gas makes it a great partner to renewable energy, while meeting today’s global energy needs, said Williams President & CEO Alan Armstrong.
Armstrong recently sat down with Judy Shaw of the New York Stock Exchange (NYSE) to talk about the company’s reliable role in the clean energy economy. The “Floor Talk” interview followed a celebratory ringing of the NYSE closing bell by some of the company’s longest-tenured employees.
“Our reliability on our systems are almost always near 100 percent,” Armstrong told Shaw. “We all take that for granted, right? The reason you never think about natural gas and its reliability is because it’s always on. I have our great employees and our great organizations to thank for that.”
Williams is on NYSE’s Historical Roster for Longest and Oldest Listed companies, having been listed since 1967. The company built its first pipeline in 1916 and has focused on both reliability and innovation to lead the midstream energy sector forward. In fact, the growth of renewables like solar and wind is made possible because of the reliability of natural gas.
“We’re a great partner to renewables because natural gas backs up renewables,” said Armstrong. “When the wind quits blowing or the sun quits shining, gas is right there to provide power generation for peoples’ homes. We’re low profile and off the radar for most people’s lives, but that’s really a good thing because that’s how reliable we are.”
In addition to supplying the United States with energy, natural gas is also transported overseas on ships carrying liquefied natural gas, or LNG. The United States became Europe’s largest source of LNG in 2021, accounting for 26% of all LNG imported by European Union member countries, according to the U.S. Energy Administration.
“We have the largest and lowest-cost reserves here in the U.S. than anywhere in the world,” said Armstrong. “We really need to embrace that and help the rest of the world use natural gas to lower their emissions and to lower their cost for energy.”