With several new pipeline projects moving forward, Williams President and CEO Alan Armstrong told CNBC that infrastructure expansions must keep up with rapidly growing natural gas markets in the U.S. and abroad.
“We are connected to the very fastest growing markets in terms of power generation load and conversion from coal to cleaner natural gas,” he said after the company announced strong third-quarter 2023 results. “And we will see more than a doubling of the LNG capacity by 2030. Those are big drivers for demand for us and we are extremely well positioned to capture the necessary infrastructure.”
In a call with analysts, Armstrong said ramping up the production of natural gas has allowed the U.S. to meet evolving domestic needs, as well as provide energy security and support to our global allies.
“The drive for electrification is on, and dispatchable power capable of keeping up with the carbon capture, hydrogen production and data centers is going to be largely served by natural gas,” he said. “This includes scaling up renewable sources to reduce carbon, while backing up those sources with the flexibility, scale and reliability of natural gas.”
Armstrong touted the early partial in-service of Williams’ Regional Energy Access expansion easing supply constraints between Pennsylvania, New Jersey and Maryland.
He also said the company is progressing on an additional 2 billion cubic feet per day of capacity on Transco expansions for completion by year-end 2025 and has executed precedent agreements on the 1.4 billion cubic feet per day Southeast Supply Enhancement project.
Read the press release about Williams Q3 2023 results.