King & Spalding represented Williams in its entry into an agreement to acquire Sequent Energy Management and Sequent Energy Canada from Southern Company Gas for $110 million, including a $60 million target for acquired working capital.
Sequent provides natural gas marketing and logistics services. This strategic acquisition complements the current geographic footprint of Williams’s core pipeline transportation and storage business. Williams anticipates that combined volumes from Sequent’s business and Williams’s existing natural gas marketing business will exceed 8 Bcf/d, which is expected to be in the top five of North American natural gas marketers. Williams noted that the transaction will facilitate expansions into new markets with opportunities to reach incremental gas-fired power generation, liquefied natural gas exports and future RNG opportunities.