Martin Resource Management Corporation Announces Successful Open Season Results on Natural Gas Storage Facility
Posted on: Wednesday, 24 January 2007, 09:01 CST
KILGORE, Texas, Jan. 24 /PRNewswire/ -- Martin Resource Management Corporation ("MRMC") announced today that Arcadia Gas Storage LLC ("AGS"), an indirect affiliate of MRMC, recently concluded its non-binding Open Season for salt cavern natural gas storage capacity in Bienville Parish, which is located in North Louisiana. AGS received non-binding commitments from energy industry participants in excess of the 15.5 Bcf of working gas storage capacity to be constructed at the facility. AGS will now work with the potential customers to negotiate definitive terms and execute precedent agreements, while it continues to seek the remaining necessary regulatory approvals from the State of Louisiana to complete the project. The Open Season responses have further confirmed the unique strategic location of AGS in the emerging North Louisiana gas transportation corridor.
AGS is a premium high deliverability salt cavern natural gas storage project to be developed through conversion of existing caverns and creation of new caverns. The facility will have interconnects through two intrastate pipelines and up to seven existing and four proposed interstate pipelines. Additional information on AGS can be found at http://www.arcadiagasstorage.com/ .
MRMC (http://www.martin-gas.com/ ) is a leading independent provider of transportation, terminalling, marketing and logistics management services for hydrocarbon products and by-products, chemicals and other bulk liquids, as well as providing fee-based services. In addition, MRMC owns 100% of the General Partner interest and an approximate 39% limited partner interest in Martin Midstream Partners L.P. , a publicly traded master limited partnership. MRMC's primary business focus is to:
* provide truck and marine transportation, terminalling and logistics management for various liquid products; * market these products such as sulfuric acid, heavy and light fuel oils, asphalt, paper mill liquids and lube oils to wholesale, industrial and end users such as tugs, ships and vessels in the Southeast and Gulf of Mexico; and * provide services such as shore based logistics from bases located to serve the Gulf of Mexico E & P business.
MRMC operates throughout North America, with principal focus in the Southern United States.
Contact: Jeff Ballew
903-983-6229
Martin Resource Management Corporation
CONTACT: Jeff Ballew of Martin Resource Management Corporation,+1-903-983-6229
Web site: http://www.martinmidstream.com/http://www.arcadiagasstorage.com/http://www.martin-gas.com/
Source: PRNewswire
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