Williams Companies Upbeat on Growth as Gas Demand Skyrockets

August 12, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Everyone knows U.S. demand for natural gas is soaring, but even pipeline developer Williams Companies Incorporated (NYSE:WMB) (Tulsa, Oklahoma) is stunned by the sheer volume of its requests. "We are seeing [gas] demand grow at an unprecedented pace," one executive said in a recent earnings call, pointing to data-center buildouts as one of the most significant driving factors.

Industrial Info is tracking about $2.5 billion worth of active and proposed projects from Williams, about half of which is attributed to natural gas pipelines. Williams expects to spend between $1.45 billion and $1.75 billion on growth projects in 2024, with maintenance spending expected to come in at between $1.1 billion and $1.3 billion. The latter includes $350 million to reduce emissions at existing facilities.