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The transaction is expected to add more than 4,000 miles of infrastructure and 6 Bcf/d of gathering capacity, while the Delta Access and Shelby Trough Connector projects target service in 2028 and 2029.
Published by Allstream Insiders.
Allstream Insiders Summary
Williams has agreed to acquire 100% of Momentum Midstream in a transaction valued at up to $5.5 billion, expanding its natural gas gathering, treating and transportation position across the Haynesville Shale and the Gulf Coast LNG corridor.
Momentum’s platform includes more than 4,000 miles of pipe, more than 1 million dedicated acres, four principal gathering areas with 6 billion cubic feet per day of combined capacity, multiple treating and processing facilities, and three take-or-pay pipelines capable of transporting 4.05 billion cubic feet per day.
Williams expects the acquisition to close later in 2026, subject to regulatory approvals and customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act.
Alongside the acquisition, Williams announced two expansion projects:
- Delta Access: a $1.5 billion expansion along the Transco corridor designed for 2.25 Bcf/d of initial capacity, with expected service in the first quarter of 2029.
- Shelby Trough Connector: a 64-mile lateral and additional compression connecting the Shelby Trough area to Williams’ Louisiana Energy Gateway system, with 750 MMcf/d of initial capacity, expansion capability up to 1.5 Bcf/d, and expected service in the second quarter of 2028.
Momentum’s platform also includes the NG3 system, a 250-mile pipeline with 2.3 Bcf/d of capacity connecting Haynesville production with the Gillis, Louisiana, market area.
Williams’ Momentum Midstream Transaction
Williams agreed to acquire Momentum for total consideration of up to $5.5 billion, consisting of approximately $3.5 billion of cash and debt consideration and roughly $2 billion of Williams equity.
The acquisition is designed to combine Momentum’s Haynesville gathering and transportation footprint with Williams’ existing Louisiana Energy Gateway, Transco and Gulf Coast infrastructure. The transaction is pending and should not be treated as completed until Williams confirms the closing and satisfaction of the required conditions.
Williams’ quarterly filing states that the company expects the transaction to close later in 2026. The acquisition agreement remains subject to customary closing conditions and regulatory review.
Momentum’s Platform Includes More Than 4,000 Miles of Pipe
Momentum operates an integrated Haynesville system extending across East Texas and Louisiana. Williams reported the following acquisition-scale specifications:
| Momentum infrastructure metric | Reported scale |
|---|---|
| Pipeline footprint | More than 4,000 miles |
| Dedicated acreage | More than 1 million acres |
| Principal gathering areas | Four |
| Combined gathering capacity | 6 Bcf/d |
| Take-or-pay pipelines | Three |
| Combined take-or-pay pipeline capacity | 4.05 Bcf/d |
| Treating and processing assets | Multiple facilities |
Momentum separately reports 20 Bcf/d of total connectivity through 91 interconnects, more than 140 customers and approximately 4 Bcf/d of minimum-volume commitments across its system.
The company’s network currently serves multiple categories of Gulf Coast demand. Momentum identifies 34 industrial end users, 26 power plants, 16 city gates and 10 LNG facilities connected through its broader system.
These figures describe the scale and connectivity of Momentum’s existing platform. They are not the capacity of the newly announced Delta Access and Shelby Trough Connector projects, which carry their own design specifications and schedules.
Delta Access Adds 2.25 Bcf/d Along the Transco Corridor
The Delta Access project is a $1.5 billion expansion along the Transco corridor designed to serve increasing natural gas demand from LNG facilities and power generation.
Williams expects Delta Access to provide 2.25 billion cubic feet per day of initial transportation capacity, with the ability to support future expansions. The project is expected to enter service in the first quarter of 2029.
Williams’ quarterly filing identifies completion of the Momentum acquisition as a condition for the Delta Access project. The announced project cost and capacity therefore represent a forward development plan tied directly to the pending transaction.
The project could create demand for large-diameter pipeline materials, compression, metering, valves, controls, civil construction, electrical systems, inspection and commissioning. Those work categories are Allstream analysis based on the announced transmission scope and do not represent contractor awards.
Shelby Trough Connector Extends Louisiana Energy Gateway
The Shelby Trough Connector will extend Williams’ Louisiana Energy Gateway gathering system into the Shelby Trough area of the Haynesville.
Williams’ quarterly filing describes the project as approximately 64 miles of new lateral pipeline with additional compression facilities. The initial design capacity is 750 million cubic feet per day, with expansion capability up to 1.5 billion cubic feet per day.
Williams expects the project to enter service in the second quarter of 2028.
The connector is designed to move additional Haynesville production into Louisiana Energy Gateway, which Williams placed in service in 2025 with 1.8 Bcf/d of capacity and a direct connection to Transco. This creates a defined gathering-to-transmission route for gas moving toward Gulf Coast LNG, industrial and power markets.
The announced construction scope establishes a clearer industrial work package than the acquisition alone. A 64-mile lateral and associated compression could require right-of-way preparation, line pipe, trenching, welding, valves, compressor equipment, metering, electrical and instrumentation systems, testing and restoration. Specific procurement packages and awards still require confirmation from Williams or its contractors.
NG3 Connects Haynesville Supply With Gillis, Louisiana
Momentum’s NG3 pipeline is an operating Haynesville gathering and transportation system extending approximately 250 miles with 2.3 Bcf/d of capacity.
The pipeline delivers Haynesville natural gas toward the Gillis, Louisiana, market area, an important connection point for Gulf Coast pipeline systems and LNG demand. NG3 entered gathering service in October 2025.
The NG3 project also includes carbon-separation infrastructure. A federal filing by a 35% joint-venture participant states that NG3 began delivering separated carbon dioxide to ExxonMobil Low Carbon Solutions Onshore Storage for capture and sequestration in February 2026.
Because NG3 has outside joint-venture ownership, Williams’ agreement to acquire 100% of Momentum should not be interpreted as acquiring 100% ownership of every underlying asset interest. Upon closing, Williams is expected to acquire Momentum’s ownership and operating interests subject to the transaction documents and existing joint-venture arrangements.
Haynesville Infrastructure Links Supply With LNG and Power Demand
Williams projects that Gulf Coast LNG demand could increase by approximately 20 billion cubic feet per day over the next decade. The Momentum acquisition is designed to place additional Haynesville gathering and transportation capacity upstream of Williams’ existing Transco and Louisiana Energy Gateway systems.
The combined position is designed to connect several infrastructure layers:
- Haynesville wellhead gathering and treating systems.
- Momentum’s take-or-pay pipelines and NG3 corridor.
- Louisiana Energy Gateway and the proposed Shelby Trough Connector.
- Transco and the proposed Delta Access expansion.
- Gulf Coast LNG terminals, industrial users and gas-fired power generation.
Momentum’s existing connections to 10 LNG facilities and 26 power plants show that the platform already serves both demand categories. Delta Access and Shelby Trough Connector are designed to add new capacity rather than merely transferring ownership of existing infrastructure.
Williams Sets a $7.3 Billion to $7.9 Billion 2026 Growth-Capital Range
Williams now expects $7.3 billion to $7.9 billion of growth capital expenditures in 2026. The company states that the range excludes certain reimbursable long-lead equipment.
The growth-capital range is a companywide program covering Williams’ broader project portfolio. It should not be treated as the budget for Momentum, Delta Access or Shelby Trough Connector.
The up to $5.5 billion acquisition consideration is also separate from project capital. Delta Access carries a disclosed project cost of $1.5 billion, while Williams has not assigned a project cost to the Shelby Trough Connector in the August 3 release or quarterly filing.
Allstream Perspective
The Momentum transaction is more than a change in ownership. Williams is pairing the acquisition with two capacity expansions that could deepen the connection between Haynesville production and Gulf Coast LNG and power demand.
The immediate construction signal is the Shelby Trough Connector, where Williams has identified the approximate pipeline length, compression scope, design capacity and expected service date. Delta Access is a larger, longer-dated transmission project with a defined budget and initial capacity, but it remains tied to completion of the acquisition.
Momentum’s existing system adds gathering, treating, processing and transportation infrastructure at scale. Its current customer and interconnect base could also provide Williams with multiple points for future debottlenecking, compression, metering and lateral projects as Haynesville production and Gulf Coast demand develop.
For contractors and suppliers, the next evidence to monitor is the formal transaction closing, Delta Access permitting and commercial progress, Shelby Trough Connector route and compressor details, and any engineering, material or construction awards issued for the two expansions.
