Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Williams Reviews Safety After Fire, Explosions at Gas Plants

May 1 (Bloomberg) -- Williams Cos., the fourth-biggest U.S. pipeline operator, is studying its safety practices after a series of incidents including a fatal Louisiana explosion in June and a fire last week at a natural gas-processing plant in Wyoming.

“Certainly, this has come as a big surprise to our organization,” Chief Executive Officer Alan Armstrong said on a conference call with analysts today. “We are conducting very thorough investigations into each incident to determine if there’s any common or root cause.”

The April 23 fire shut down the gas plant near Opal, Wyoming, and forced the evacuation of the town as a precaution. That followed a March 31 explosion at a liquefied gas storage facility in Plymouth, Washington, that led to another evacuation.

In December, the U.S. Occupational Safety and Health Administration proposed a $99,000 fine against Tulsa, Oklahoma-based Williams following a June explosion at a processing plant in Geismar, Louisiana. Two workers were killed and 80 were injured when a fireball erupted at the plant, which is owned by Williams Partners LP, a partnership controlled by Williams Cos.

Discussions with OSHA over the matter continue, a company spokesman, Tom Droege, said in an e-mail. Over the last five years, Williams has had a lower rate of incidents on its pipelines than the industry average, he said, citing federal statistics.

Full Attention

Armstrong, the CEO, said Williams will address its safety record further at its annual analyst conference on May 14.

“I can tell you that this has my full attention and the attention of our board as well,” he said. “We’re looking hard to determine what other contributing factors may be out there and to make sure that we’re doing our business in as safe a manner as possible.”

Williams Cos. rose 2.6 percent to $43.27 at the close in New York. The company yesterday said adjusted first-quarter profit was 28 cents a share, beating analysts’ estimates.

Enterprise Products Partners LP, based in Houston, is the biggest pipeline operator by market value.

To contact the reporter on this story: Alex Nussbaum in New York at anussbaum1@bloomberg.net

To contact the editors responsible for this story: Susan Warren at susanwarren@bloomberg.net Stephen Cunningham, Will Wade

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.