Inergy Sells Thomas Corners Natural Gas Storage Project
Posted on: Wednesday, 7 May 2008, 09:00 CDT
Inergy has announced that its regulated subsidiary Arlington Storage Company has sold out the available capacity in its Thomas Corners natural gas storage project located in Steuben County, New York.
Arlington Storage Company (ASC) has been in negotiations with shippers who participated in its non-binding open season and has reached commercial terms with all shippers in the form of executed precedent agreements.
The agreements total 5.7 billion cubic feet (bcf) of working gas capacity and provide the necessary commercial support for ASC to proceed with its expansion plans. The duration of the firm storage agreements is five years.
John Sherman, president and CEO of Inergy, said: "Once again, the market has responded favorably to the expansion of our natural gas storage platform in the Northeast. These contracts demonstrate continued confidence in the growth opportunities in our natural gas storage business."
Source: Datamonitor
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