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Cardinal Acquires Gas Storage Projects From CenterPoint Energy

Posted on: Friday, 20 June 2008, 09:00 CDT

Cardinal Gas Storage Partners has acquired two natural gas storage development projects from CenterPoint Energy Gas Transmission, an indirect, wholly owned interstate natural gas pipeline subsidiary of CenterPoint Energy.

The projects, located near the Perryville Hub in north Louisiana, include a salt dome storage development project and a depleted reservoir storage development project.

The salt dome storage development project, Perryville Gas Storage, is expected to consist of up to 22.5 billion cubic feet (Bcf) of high-deliverability working gas storage capacity with multiple interconnects, including CenterPoint Energy Gas Transmission's (CEGT) Perryville Hub header system near Delhi, Louisiana.

Cardinal expects commencement of operations in 2012 and has recently announced that a non-binding open season will begin on June 23, 2008.

The depleted reservoir storage development project, Cadeville Gas Storage, is expected to consist of up to 16.5Bcf of working gas capacity with three major interconnects and potential for up to four turn capability. Cardinal expects commencement of operations in 2011.

Source: Datamonitor

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