PAA Natural Gas Storage, L.P. (NYSE: PNG) today announced the successful completion of a non-binding open season for firm storage capacity at its Pine Prairie Energy Center facility. In response to the open season announcement that requested bids for firm storage capacity with a starting date of April 1st during 2015, 2016 or 2017, Pine Prairie received non-binding bids for an aggregate of 12.5 Bcf of firm storage capacity. The bids were from a diverse set of customers, highlighting the facility’s appeal across geographies and customer classes.
Located in south Louisiana, the Pine Prairie Energy Center is one of the largest salt dome gas storage facilities in the United States. Pine Prairie is a high-deliverability facility with the authorization and capability to receive and inject up to 2.4 Bcf per day and to withdraw and deliver up to 3.2 Bcf per day. Pine Prairie is directly connected to eight large-diameter interstate pipelines and provides storage and balancing services to customers from the Northeast, Midwest, Southeast and the Gulf Coast. Pine Prairie’s interconnectivity allows customers access to major supply basins throughout the United States, and the facility’s significant deliverability and proximity to major existing and developing demand centers along the Gulf Coast positions it to provide critical balancing services to a variety of end use customers, including electric power generators, the growing petrochemical market and major LNG exporters.
PAA Natural Gas Storage is a publicly traded master limited partnership engaged in the development, acquisition, operation and commercial management of natural gas storage facilities. The Partnership currently owns and operates three natural gas storage facilities located in Louisiana, Mississippi and Michigan. The Partnership's general partner, as well as the majority of the Partnership's limited partner interests, is owned by Plains All American Pipeline, L.P. (NYSE: PAA). PNG is headquartered in Houston, Texas.