November 13, 2008

Bobcat Gas Storage Introduces New Facility in US

Bobcat Gas Storage, which is owned by Haddington Energy Partners III and GE Energy Financial Services, has introduced a new natural gas storage facility in the US.

The first cavern, which has completed its first week of successful commercial operations, is fully subscribed with customers. A second cavern is expected to be completed in the third quarter of 2009.

After nearly three years of planning, permitting, construction and receipt of final permits from the state and federal agencies for the project 1.5 miles southeast of Port Barre in south-central Louisiana, Bobcat Gas Storage began providing storage services to its customers on November 1, 2008.

Bobcat's initial capacity is nearly 5.4 billion cubic feet of working gas (bcfw), which is planned to be increased to 10.3bcfw by the third quarter of 2009 with the in-service of second cavern, which is currently under construction, and fully built-out to 15.6bcfw by year end 2009.

The Bobcat facility is located in St Landry Parish, Louisiana, 45 miles from Henry Hub, the clearing point for NYMEX natural gas futures contracts and the most liquid trading point in the natural gas over-the-counter and cash markets.