Wednesday, May 13, 2009
Phoenix Business Journal
NGS Energy LP has signed a deal with El Paso Corp. to develop a natural gas storage facility in Pinal County.
The underground storage facility, which could hold as much as 20 billion cubic feet of gas, could start operations by 2012 if it receives approval from the Federal Energy Regulatory Commission.
“The growth in the Arizona market has not received the appropriate response from the natural gas storage industry,” said NGS Energy President Laura Luce. “El Paso’s work drilling and coring multiple wells to test the viability of the geology and feasibility of the project are the first steps to sincerely address Arizona’s storage need.”
The facility, to be located in the Picacho Basin, would have access to several natural gas pipelines as well as several proposed gas-fired power plants.
Financial details of the project were not released.
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