The Laser gathering system includes 33 miles of natural gas pipeline and associated gathering facilities in Susquehanna County, Pennsylvania, as well as ten miles of gathering pipeline in New York.
The gas gathering system will reach a total capacity of about 1.3 billion cubic feet per day due to increase in the Marcellus shale production.
The acquisition will be funded with a combination of $300m cash and about 7.5 million Williams Partners common units.
The transaction is expected to close in the first quarter of 2012, subject to regulatory approvals.
Williams Partners senior vice president of midstream Rory Miller said the acquisition of the Laser system continues the company’s strategy of reliably serving producers through large-scale midstream infrastructure in the Marcellus shale and other basins.
