Williams (WMB) is pursuing Project Socrates, the latest splashy investment by a midstream company to meet demand for data centers. WMB is putting $1.6B into the project and targeting completion in 2H26, according to an 8-K filing.
Project Socrates includes a power generation facility in Ohio paired with a supportive pipeline network. The project is backed by 10-year contracts that are expected to support a 5.0x build multiple, WMB said, suggesting annual revenue of $320MM in WMB’s transmission segment.
East Daley Analytics tracks over 300 data center proposals like Project Socrates in the Data Center Demand Monitor. According to WMB’s website, the Socrates Power Solution Facilities will feature two power generation sites with a combined capacity of 400 MW in New Albany, OH.
Meanwhile, the Data Center Demand Monitor shows Franklin County, OH, is already set to host 2.2 GW of load from new data centers by developers such as AWS, DBT, Google, and Vantage. The map from the dashboard shows this cluster of potential load. The Project Socrates facilities could either support announced projects or back yet-to-be-revealed AI growth plans.
The 8-K filing states that Williams will back both the pipeline and generation components of the project. However, WMB’s crown jewel transmission asset, the Transcontinental system, lies too far south to serve the Ohio market.
The tight timeline suggests the pipeline will likely be intrastate. WMB operates the Blue Racer, Cardinal, and Flint G&P systems in Ohio, which may serve as origination points for the gas needed to support the project. Clients can review historical rigs, volumes and counterparties for those assets in East Daley’s Energy Data Studio.
The boom in data centers is spurring gas demand growth and creating expansion opportunities for midstream companies. If WMB sources the gas from its own G&P footprint, it can optimize the full value chain by gathering, transporting and converting gas to electricity, earning a rate at each stage. This strategy would increase in-basin consumption and would allow Northeast gas production to grow relative to our current expectations.
The Data Center Demand Monitor is available as part of the Macro Supply & Demand package. Reach out to East Daley to learn more. – Zach Krause Tickers: WMB.
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