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Williams to build Louisiana natgas project in Haynesville shale basin

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June 29 (Reuters) - U.S. energy company Williams Cos Inc said on Wednesday it had reached a final investment decision (FID) to build its proposed Louisiana Energy Gateway (LEG) project to gather natural gas produced in the Haynesville shale basin.

Williams said the project is designed to move 1.8 billion cubic feet per day (bcfd) of gas to several Gulf Coast markets, including its Transco gas pipe from Texas to the U.S. Northeast, industrial consumers and liquefied natural gas (LNG) export plants.

The Haynesville shale basin covers parts of Texas, Arkansas and Louisiana.

Williams said it expects LEG to enter service in late 2024.

The company said the project should enable it to pursue additional market access projects, including development of carbon capture and storage infrastructure.

Chad Zamarin, senior vice president of corporate strategic development for Williams, said in a release that LEG is "ideally positioned to incorporate carbon capture and storage as a further decarbonizing solution for natural gas production in the rapidly growing Haynesville basin."

Williams said it signed a memorandum of understanding earlier this year with private equity firm Quantum Energy Partners to form a joint venture that will enable Quantum to become an equity investor and partner in the project.

(Reporting by Scott DiSavino Editing by Paul Simao)

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