Williams Partners L.P. (WPZ)

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Williams Partners L.P.

Williams Partners L.P. (WPZ) is a Master Limited Partnership (MLP) whose three interstate gas pipelines systems delivers 14 percent of the natural gas consumed in the United States. ^[1] WPZ was formed to own, operate and acquire a diversified portfolio of complementary energy assets. WPZ focuses on natural gas transportation; gathering; treating and processing; storage; NGL fractionation; and oil transportation.

WPZ has a large-scale midstream gathering and processing operations in the U.S. Rocky Mountains, both onshore and offshore along the Gulf of Mexico, and a growing presence in the Marcellus Shale. WPZ is the third largest, soon to be second largest energy MLP in the country, with a diversified portfolio of world-class interstate gas pipeline and midstream assets that span the continent.

Gas Pipeline

Operations are divided into two business segments: • Gas Pipeline — this segment includes our interstate natural gas pipelines and pipeline joint venture investments. Gas Pipeline’s strategy is to create value focuses on maximizing the utilization of our pipeline capacity by providing high quality, low cost Gas Pipeline includes Transco and Northwest Pipeline, which own and operate a combined total of approximately 13,900 miles of pipelines. Gas Pipeline also holds interests in joint venture interstate and intrastate natural gas pipeline systems including a 24.5 percent interest in Gulfstream, which owns an approximate 745-mile pipeline.

Williams Partners owns interests in three major interstate natural gas pipeline systems – Transco, Northwest Pipeline and Gulfstream. The partnership’s large-scale midstream assets are concentrated in major producing basins in Colorado, New Mexico, Wyoming, the Gulf of Mexico, and the Marcellus Shale in Pennsylvania.

WPZ owns and operates a combined total of approximately 13,900 miles of pipelines with a total annual throughput of approximately 2,800 TBtu of natural gas and peak-day delivery capacity of approximately 13 MMdt of natural gas. Gas Pipeline consists primarily of Transcontinental Gas Pipeline Company, LLC (Transco) and Northwest Pipeline GP (Northwest Pipeline). Gas Pipeline also holds interests in joint venture interstate and intrastate natural gas pipeline systems including a 24.5 percent interest in Gulfstream.

Transco is an interstate natural gas transportation company that owns and operates a 10,000-mile natural gas pipeline system extending from Texas, Louisiana, Mississippi and the offshore Gulf of Mexico through Alabama, Georgia, South Carolina, North Carolina, Virginia, Maryland, Pennsylvania and New Jersey to the New York City metropolitan area. The system serves customers in Texas and 11 southeast and Atlantic seaboard states, including major metropolitan areas in Georgia, North Carolina, Washington, D.C., New York, New Jersey and Pennsylvania.

Gulfstream is a natural gas pipeline system extending from the Mobile Bay area in Alabama to markets in Florida. We own, through a subsidiary, a 24.5 percent interest in Gulfstream while our General Partner, Williams, owns a 25.5 percent interest through a subsidiary. Spectra Energy Corporation through its subsidiary, and Spectra Energy Partners, LP, owns the additional 50 percent interest. We share operating responsibilities for Gulfstream with Spectra Energy Corporation (SE).

Midstream Gas & Liquids

• Midstream Gas & Liquids — this segment includes our natural gas gathering, treating and processing business and is comprised of several wholly owned and partially owned subsidiaries. Midstream’s ongoing strategy is to safely and reliably operate large-scale midstream infrastructure where our assets can be fully utilized and drive low per-unit costs.

Midstream includes natural gas gathering, processing and treating facilities, and crude oil gathering and transportation facilities with primary service areas concentrated in major producing basins in Colorado, New Mexico, Wyoming, the Gulf of Mexico, and Pennsylvania.

Plans

KPZ continues to focus upon growth through disciplined investments in the natural gas businesses.

• Expansion of Gas Pipeline’s interstate natural gas pipeline system to meet the demand of growth markets.

• Continued investment in Midstream Gas & Liquids deepwater Gulf expansion projects and gas gathering and processing capacity in the western United States, infrastructure in the Marcellus Shale area and increased ownership in OPPL. These investments were primarily funded through cash flow from operations, and debt and equity offerings.

Williams Pipeline Partners

During third quarter 2010, Williams Partners L.P. (WPZ) completed the merger with Williams Pipeline Partners (WMZ), a publicly traded master limited partnership that was formed by Williams in 2007. All of WMZ’s common and subordinated units have been extinguished and Williams Partners L.P. (WPZ) wholly owns WMZ. WMZ has been delisted and is no longer publicly traded.

Williams Companies

Williams Companies (WMB) owns approximately 75 percent of Williams Partners WPZ, including the general-partner interest. Williams is primarily an integrated natural gas company with 2010 revenues in excess of $9.6 billion that trades on the New York Stock Exchange. Williams primarily finds, produces, gathers, processes, and transports natural gas.

Internet Partnership information is available at www.williamslp.com. Request additional materials, phone 800-600-3782, or access the Web site. Investors may also use this number to request a hard copy of our complete audited financial statements, free of charge.

Transfer Agent and Registrar Computershare P.O. Box 43069, Providence, RI 02940-3069 Phone: 781-575-3100 Hearing impaired: 800-952-9245 Email: shareholder@computershare.com website: www.computershare.com KPZ principal executive offices One Williams Center, Tulsa, Oklahoma 74172. Telephone (918) 573-2000. ^[2]

Sumflow 18:43, December 24, 2011 (PST)

References

1. ↑ [ http://www.williamslp.com/]
2. ↑ [1]