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The Lithuanian government selected Williams International Group to invest and
operate three oil infrastructure projects with an opportunity to participate in additional
energy projects on March 17th. This agreement was signed by Williams and the
Minister of Economy, Vincas Babilius, and subsequently approved by the parliament of
Lithuania (Seimas). Such United States trade and investment in Lithuania are a
crucial means to ensure Lithuania's integration into the west and western alliances, such
as NATO.
Williams is known in the U.S. as a solid, experienced and reputable American
business. It is a $16.3 billion dollar energy, communications, and infrastructure
projects company with headquarters in Tulsa, Oklahoma. This firm operates not only
in the U.S., but also in 20 different countries from Latin America to Australia,
throughout Europe, Asia and to the Pacific Rim. Williams provides a full range of
traditional and leading-edge energy and communication services employing over 20,000
people worldwide. Williams's 1997 revenues were $4.4 billion dollars, resulting in a
net income of $271 million dollars.
Initially, two Williams brothers began a construction business in
1908. Later, it grew into a world leading pipeline engineering and construction
firm. Then, in 1957, the firm went public under the name of Williams Brothers with a
net worth of about $8 million dollars. In 1985, the company entered into the
communications business, turning the idle pipelines into conduit for fiber-optic
cable. It is the nation's fourth largest fiber-optic network. Even though the
company sold its long distance portion of the telecommunications business in 1995, it
stayed involved in multimedia applications, such as video, the Internet, and customer
premise equipment.
In 1995, Williams acquired Transco Energy, a major natural gas pipeline
company. This made Williams the largest volume transporter of natural gas in the
United States. In March of 1998, it then acquired MAPCO, Inc. with its natural gas
liquid pipelines, refining, propane marketing and distribution, as well as a chain of more
than 250 convenience stores and travel centers. Williams is the fifth largest retail
propane marketer in the United States.
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Williams International
Group representatives met with representatives of the
Lithuanian-American Community and members of Lithuania's
Parliament at the Lithuanian Embassy in Washington, D.C. on April
2nd. The above photo includes Audroné Pakštass (Director of LAC
Public Affairs Office), Debbie Lawrence (Vice President of
Government Affairs, Williams Co.), Glenn Jackson (Director of
Legislative Affairs, Williams Co.), and Dr. Michael Pakštas
(SAIC).
Photo: Ramūnas Astrauskas
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Williams
expects to acquire 33 percent ownership of the following Lithuanian
projects: the Birzai pipeline system, the Mazeikiu Oil Refinery,
and the Butingė Terminal Project. The Lithuanian government will
retain 34 percent ownership. The balance will remain owned by the
Russian oil companies using the facilities. Williams is expected
to complete construction of the terminal and an offshore oil export
facility at Butinge, and then operate all of the facilities. A
planned offshore pipeline will deliver oil and other petroleum products
to a single point mooring buoy located 10 kilometers offshore Butinge.
The agreement by Williams with the Lithuanian government has won praise by
United States government officials. Deputy Secretary of State, Strobe Talbott, and
Commerce Secretary, William Daley, have both hailed the selection of Williams for this
project. They also expressed confidence that the climate for long-term investment in
Lithuania by U.S. companies will continue.
Don Wiruth, managing director of Williams international group said, "We
are extremely excited about the opportunity to assist in developing these energy
assets. The Butinge project represents a major economic development for
Lithuania. We look forward to the opportunity to become part of the Lithuanian
community."
We expect Williams will be mindful
of the views and concerns of the Lithuanian people. This type of investment creates
a U.S. presence that not only is expected to contribute to Lithuania's prosperity but also
to bring with it significant political and security benefits. We look forward to a
success story for both Lithuania and Williams.
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