# Who are Williams Companies's customers? Who does Williams Companies earn revenue from?
Canonical: https://valuechain.wiki/williams · Facet: customers · Updated: 2026-09-24T04:08:56.926044+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Williams Companies's confirmed revenue counterparties include EQT Corporation, Atmos Energy Corporation, Vistra plus 2 undisclosed/aggregate relationships. Per the valuechain.wiki graph: 5 revenue edges, backed by 7 dated sources, 3 of them primary filings (as of 2026-09-24).

### LNG·발전·산업 (가스 수송) (high)
- note: Gas transport to LNG, power plants, industry and datacenter gas generation ($5B+ power projects).
- [confirms] BeyondSPX (EN, research, published 2026-01-01) https://everyticker.com/quote/WMB/analysis/williams-companies-the-natural-gas-superhighway-entering-its-golden-age-nyse-wmb: "Gas transport to LNG, power plants, industry and datacenter gas generation ($5B+ power projects)."
- [confirms] Nasdaq (EN, news, published 2025-01-01) https://www.nasdaq.com/articles/williams-invest-31b-power-projects-data-centers: "Gas transport to LNG, power plants, industry and datacenter gas generation ($5B+ power projects)."

### EQT 코퍼레이션 (high)  → /eqt.md
- note: Williams, through its subsidiary Williams Ohio Valley Midstream, contracts to process EQT's produced gas and extract NGL streams such as ethane and propane, while counterparty-specific processing fees are not disclosed.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-18) https://www.sec.gov/Archives/edgar/data/33213/000003321326000018/eqt-20251231.htm: "Williams Ohio Valley Midstream LLC"

### 앳모스 에너지 (high)  → /atmos-energy.md
- note: Williams, through its Sequent Energy Management subsidiary, is one of the major natural gas suppliers that Atmos Energy directly identified in its FY2025 Form 10-K, with supplier-specific purchases undisclosed.
- [confirms] U.S. Securities and Exchange Commission EDGAR (EN, filing, published 2025-11-14) https://www.sec.gov/Archives/edgar/data/731802/000073180225000056/ato-20250930.htm: "Major suppliers during fiscal 2025 were ARM Energy Management LLC, Cima Energy, LP, ConocoPhillips Company, ECO Energy Natural Gas LLC, EnLink Gas Marketing LP, Sequent Energy Management LLC, Symmetry Energy Solutions, LLC, Targa Gas Marketing LLC, Tenaska Marking Ventures, and Texla Energy Management, Inc."
- [mentions] Balfour Capital Group Research Department (EN, research, published 2025-06-09) https://balfourcapitalgroup.com/wp-content/uploads/2025/06/ATO-Research.pdf: "Its core operations cover procurement, storage, and regulated distribution, with a pipeline and storage infrastructure supporting residential, commercial, and industrial clients."
- [confirms] Williams (EN, ir, published 2021-07-01) https://investor.williams.com/news-releases/news-release-details/williams-completes-acquisition-sequent-energy-management: "Williams (NYSE: WMB) today announced it has completed its acquisition of Sequent Energy Management, L.P. and Sequent Energy Canada, Corp. from Southern Company Gas."

### Vistra (mid)  → /vistra.md
- note: Transports natural gas to Vistra's gas-fired plants — a transport-volume axis tied to generation utilization.
- [confirms] Nasdaq (EN, news, published 2025-01-01) https://www.nasdaq.com/articles/williams-invest-31b-power-projects-data-centers: "Transports natural gas to Vistra gas generation."

### NextEra Energy (mid)  → /nextera-energy.md
- note: Transports natural gas to NextEra's gas plants and utilities — tied to generation and power demand.
- [confirms] StockAnalysis (EN, filing, published 2026-02-01) https://stockanalysis.com/stocks/wmb/: "Transports natural gas to gas plants and utilities."
- [confirms] BeyondSPX (EN, research, published 2026-01-01) https://everyticker.com/quote/WMB/analysis/williams-companies-the-natural-gas-superhighway-entering-its-golden-age-nyse-wmb: "Transports natural gas to gas plants and utilities."

Reverse side: https://valuechain.wiki/williams/suppliers.md · Ripple: https://valuechain.wiki/williams/ripple.md

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Full node: https://valuechain.wiki/williams.md · JSON: https://valuechain.wiki/williams.json