NDR enters storage agreement with largest natural gas distributor in the U.S.

Source: Universal Bioenergy Inc.

Universal Bioenergy Inc. (OTC:UBRG), announced that its subsidiary, NDR Energy Group, has signed an agreement for natural gas storage facility services with the largest natural gas distributor in the U.S. This agreement is expected to be a major game changer for the Company in terms of generating strong potential earnings.

The gas distribution company supplies and delivers natural gas to over 20.9 million customers on the west coast. Its parent company, a Fortune 500 company, traded on the New York Stock Exchange and reported revenues of $10.0 billion in 2011, in its annual report.

NDR Energy Group, signed a Master Core Secondary Market Services Agreement with the gas utility under their Park, Loan and Wheel Program for natural gas storage facility services. Under the terms of the Agreement, the company which owns and operates 134 billion cubic feet of underground gas storage facilities will provide the storage facility, and Universal / NDR Energy Group would purchase, supply and transport the natural gas from the gas fields to the facility for storage. NDR Energy will sell the natural gas in the marketplace to meet seasonal load imbalances, engage in futures contracts and spot market sales, physical gas trading, financial gas trading; includes hedging, and the use of natural gas derivatives and other financial instruments to generate greater revenues and profits.

Universal's President Vince M. Guest states, "We are very excited about this agreement. We have been talking about this for over a year, and now NDR has done it. This is a real game changer for us. NDR Energy will now add gas storage as one of our major new profit centers for the Company. This should bring us significant revenues and profits in the coming year. Gas storage will position us to generate millions in potential sales and profits from gas trading, hedging, management, options, swaps and transportation. NDR Energy has been working on this deal for many months, and has finally scored a major financial coup for the Company. The contract limits NDR Energy from disclosing the customer's name and certain details of the transaction, however, we'll be providing more details on the benefits to our shareholders at later date."

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs