Cadeville holds open season for planned natural gas storage facility in Louisiana

Source: Cadeville Gas Storage

Cadeville Gas Storage, a wholly-owned subsidiary of Cardinal Gas Storage Partners, intends to hold a 30-day non-binding open season at a planned natural gas storage facility to be located in Ouachita Parish, approximately 10 miles southwest of Monroe, Louisiana. Commercial storage services are scheduled to commence in 2012. 

The approximate three to four turn facility is being designed to provide a peak deliverability of 420 MMcf/d and a peak injection of 420 MMcf/d. Cadeville will be converting a depleted gas reservoir to develop a total of 16.5 Bcf of working gas storage. This open season will be for approximately 11.5 Bcf of firm working gas storage capacity. The facility will have the ability to interconnect to Tennessee Gas Pipeline Line 100, Gulf South's Middle 30, Gulf South's 42" East Texas to Mississippi Expansion, Texas Gas Transmission, CenterPoint Energy Line CP and ETP's 42" Tiger Pipeline. 

"We are pleased to announce that Cadeville has reached an agreement, subject to execution of final customary definitive documents, with an anchor customer for Firm Storage capacity. This further demonstrates the need for additional natural gas storage capacity in North Louisiana, especially in and around the Haynesville Shale to Perryville corridor," said Jeff Ballew, President and CEO of Cardinal. 

"Combined with the recent successful efforts to close financing for Phase I of the Perryville Gas Storage project, our high deliverability multi-cycle salt project under development near Delhi, LA, we believe Cadeville provides the perfect complement of lower cycle storage services for shippers in and around the Perryville/Delhi Hub," he added. 

The non-binding open season begins at 8:00 am CDT on June 1, 2010 and will end at 5:00 pm CDT on June 30, 2010.

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