Williams Partners to sell NOVA interests in La. olefins facility

Williams Partners LP has agreed to sell 100 percent of its membership interest in Williams Olefins LLC — which owns an 88.46-percent undivided ownership interest in the Geismar, Louisiana, olefins plant and associated complex — to NOVA Chemicals for $2.1 billion in cash, subject to customary closing conditions.

Additionally, upon closing of the transaction, Williams Partners subsidiaries will enter into long-term supply and transportation agreements with NOVA Chemicals to provide feedstock to the Geismar olefins plant via Williams Partners’ Bayou Ethane pipeline system on the Gulf Coast. These agreements secure a meaningful long-term fee-based revenue stream for the partnership.

For more information, visit http:// co.williams.com or www.novachem.com.