Pipeline operator Williams has announced its plans to purchase a portfolio of natural gas storage assets from an affiliate of Hartree Partners LP for $1.95 billion because of the increasing demand for liquefied natural gas (LNG) projects.

The deal, expected to close in January 2024, includes six underground natural gas storage facilities with a total capacity of 115 billion cubic feet in the U.S. states of Louisiana and Mississippi.

Williams would also get 230 miles of gas transmission pipeline and 30 pipeline interconnects to markets, including liquefied natural gas, as well as connections to Williams’ Transco pipeline.

“These assets better position Williams’ natural gas storage operations to serve Gulf Coast LNG demand and growing electrification loads from data centers along the Transco corridor,” said Willam’s CEO, Alan Armstrong.

Last year, Williams hired two experienced executives to set up an LNG marketing operation. This move was in anticipation of the United States becoming the top exporter of LNG, surpassing countries like Qatar and Australia, according to the Energy Information Agency (EIA). With new export plants expected to begin production next year, analysts predict that the US will solidify its position as the top exporter.