Tres Palacios Gas Storage LLC, Receives Its Certificate of Public Convenience and Necessity From the Federal Energy Regulatory Commission
To: BUSINESS EDITORS
Contact: Laura Luce for NGS Energy Fund, +1-203-557-4264
WESTPORT, Conn., Sept. 21 /PRNewswire-USNewswire/ — NGS Energy Fund, LP announced today that its wholly owned subsidiary, Tres Palacios Gas Storage LLC, has received its Certificate of Public Convenience and Necessity from the Federal Energy Regulatory Commission for its natural gas salt storage project located in Matagorda County, Texas.
The Project is planned to commence construction in October and will be fully developed in 2010, offering 36 Bcf of high deliverability working gas storage capacity to its customers. It is expected to be in-service with 12.52 Bcf of capacity in July 2008.
Having interconnections with up to thirteen interstate and intrastate pipelines inside a dynamic and highly liquid Gulf Coast market, Tres Palacios will offer its customers maximum flexibility at market based rates as the only fully FERC regulated interstate storage facility in Texas.
A binding open season for remaining capacity at Tres Palacios will begin on Monday October 1st and end on Tuesday October 9th at 5pm EST. All interested parties should contact Laura Luce (203) 557- 4264 and visit the company’s website www.trespalaciosgasstorage.comfor more details and to download project materials.
Tres Palacios has been working closely with the Matagorda County Economic Development Committee along with numerous County representatives and officials who have demonstrated overwhelming enthusiasm and support for the project. “The announcement that Tres Palacios Gas Storage, LLC has been granted a permit to build a storage facility in Matagorda County is great news that we have been anxiously awaiting,” said County Judge Nate McDonald, “TPGS perfectly fits the mold for the type of industrial partners we are looking for in Matagorda County. That mold encompasses clean industry who provide good paying jobs to our citizens and partner with our local agencies in meeting their needs through leadership and benevolence.”
A total of 10 full time jobs and an estimated 300 temporary construction jobs will be created at the Markham, Texas facility. A job fair for all open permanent positions will be held in October and details will be provided on the company’s website.
NGS Energy Fund is an independent natural gas storage development company headquartered in Westport, Connecticut. In addition to Tres Palacios Gas Storage, NGS is the parent company of Leaf River Energy Center located in Smith County Mississippi and Windy Hill Gas Storage located in Morgan County Colorado.
SOURCE NGS Energy Fund, LP
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