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  <TITLE> The Williams Companies, Inc. (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	May 3, 2006
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  	The Williams Companies, Inc.
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Delaware
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  	1-4174
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  	73-0569878
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	One Williams Center, Tulsa, Oklahoma
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  	&nbsp;
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  	74172
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	&nbsp;
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  	918-573-2000
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
  </P>
  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <B>
  	Item 8.01 Other Events.
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  On May 3, 2006, The Williams Companies, Inc. ("Williams") announced that one of its units and an affiliate of ONEOK, Inc. have entered into an agreement to form a joint venture that will develop new pipeline capacity for transporting natural gas liquids ("NGL") from production areas in southwestern Wyoming to central Kansas, known as the Overland Pass Pipeline.<br><br>ONEOK&#x2019;s affiliate, Northern Border Partners, L.P., has agreed to reimburse Williams&#x2019; development costs to date for the proposed pipeline and initially will own 99 percent of Overland Pass Pipeline. Subsidiaries of Northern Border Partners will manage the construction project and operate the pipeline.<br><br>Williams is retaining a 1 percent interest in Overland Pass Pipeline Company and has the option to increase its ownership to 50 percent and become the operator within two years of the pipeline becoming operational. Start-up is tentatively planned for early 2008. <br><br>Additionally, Williams has agreed to dedicate its equity NGL volumes from its two Wyoming plants for transport on Overland Pass Pipeline under a long-term shipping agreement. <br><br>Subsidiaries of Northern Border Partners also will provide other downstream services that will ultimately give Williams access to another major demand hub in Mont Belvieu, Texas, for finished NGL products. <br><br>The joint venture and related commercial agreements are subject to approval by Williams&#x2019; board of directors. <br><br>A copy of Williams' press release publicly reporting the joint venture is furnished herewith as Exhibit 99.1.<br><br><br>
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  	Item 9.01 Financial Statements and Exhibits.
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  (a)  None<br>(b)  None<br>(c)  Exhibits:<br><br>Exhibit 99.1   Copy of Williams' press release dated May 3, 2006, publicly reporting the joint venture as discussed herein.<br><br>
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	The Williams Companies, Inc.
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  	&nbsp;&nbsp;
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  <I>
  	May 8, 2006
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  <I>
  	By:
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  <I>
  	Brian K. Shore
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  <I>
  	Name: Brian K. Shore
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  <I>
  	Title: Secretary
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	Description
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  	99.1
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  	&nbsp;
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  <FONT SIZE="2">
  Press release dated May 3, 2006
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_12248.htm", "description": "LIVE FILING", "secsgml_size_bytes": 11363}]
metadata_filer: {"company-data": {"conformed-name": "WILLIAMS COMPANIES INC", "cik": "0000107263", "assigned-sic": "4922", "irs-number": "730569878", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-04174", "film-number": "06816504"}, "business-address": {"street1": "ONE WILLIAMS CTR", "city": "TULSA", "state": "OK", "zip": "74172", "phone": "9185732000"}, "mail-address": {"street1": "ONE WILLIAM CENTER", "city": "TULSA", "state": "OK", "zip": "74172"}, "former-company": {"former-conformed-name": "WILLIAMS BROTHERS COMPANIES", "date-changed": "19710817"}}
text: The Williams Companies, Inc. (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  May 3, 2006
  The Williams Companies, Inc.
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Delaware
  1-4174
  73-0569878
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  One Williams Center, Tulsa, Oklahoma
  74172
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  918-573-2000
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 8.01 Other Events.
  On May 3, 2006, The Williams Companies, Inc. ("Williams") announced that one of its units and an affiliate of ONEOK, Inc. have entered into an agreement to form a joint venture that will develop new pipeline capacity for transporting natural gas liquids ("NGL") from production areas in southwestern Wyoming to central Kansas, known as the Overland Pass Pipeline.
  ONEOK's affiliate, Northern Border Partners, L.P., has agreed to reimburse Williams' development costs to date for the proposed pipeline and initially will own 99 percent of Overland Pass Pipeline. Subsidiaries of Northern Border Partners will manage the construction project and operate the pipeline.
  Williams is retaining a 1 percent interest in Overland Pass Pipeline Company and has the option to increase its ownership to 50 percent and become the operator within two years of the pipeline becoming operational. Start-up is tentatively planned for early 2008.
  Additionally, Williams has agreed to dedicate its equity NGL volumes from its two Wyoming plants for transport on Overland Pass Pipeline under a long-term shipping agreement.
  Subsidiaries of Northern Border Partners also will provide other downstream services that will ultimately give Williams access to another major demand hub in Mont Belvieu, Texas, for finished NGL products.
  The joint venture and related commercial agreements are subject to approval by Williams' board of directors.
  A copy of Williams' press release publicly reporting the joint venture is furnished herewith as Exhibit 99.1.
  Item 9.01 Financial Statements and Exhibits.
  (a)  None
  (b)  None
  (c)  Exhibits:
  Exhibit 99.1   Copy of Williams' press release dated May 3, 2006, publicly reporting the joint venture as discussed herein.
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  The Williams Companies, Inc.
  May 8, 2006
  By:
  Brian K. Shore
  Name: Brian K. Shore
  Title: Secretary
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  99.1
  Press release dated May 3, 2006