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NYSE: ATG $31.08 -0.36
Jan 6 2009 3:50PM ET
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Project Information |
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Project Information
AGL Resources is building a natural gas storage project in the Spindletop salt dome in Beaumont, Texas, by hollowing out the salt approximately a half-mile to a mile below ground to create caverns. Virtually impermeable and protected deep underground, salt dome caverns are the safest means of storing natural gas.
Stored natural gas provides a number of benefits:
- balances changes in market demand,
- stabilizes prices and
- provides a buffer against supply disruptions, such as hurricanes.
Golden Triangle Storage will increase Jefferson County’s current storage capacity and enhance the area’s position as a national energy hub, increasing the functionality of both its existing and planned energy infrastructure.
We are designing, building and operating Golden Triangle Storage to meet or exceed the latest regulatory guidelines for safety and environmental sensitivity. Located on land on the far southern edge of Beaumont, the facility is on the site of old sulfur mines, continuing oil production, and near existing natural gas storage facilities.
The project is conveniently located near natural gas supplies, including natural gas imported through area liquefied natural gas (LNG) terminals, East Texas natural gas fields and offshore deepwater wells. A number of nearby pipelines will deliver that natural gas to customers in the region as well as to markets in the Northeast, Mid-Atlantic and Southeast.
Golden Triangle Storage initially will offer 12 billion cubic feet (Bcf) of working gas capacity – enough natural gas to power nearly 300,000 Texas homes for a year – in two salt dome caverns and have the capacity to expand its service offerings to 28 Bcf.
Construction began in May 2008, and we anticipate that the first storage cavern will be ready for commercial operations in late 2010 to early 2011 and the second cavern in 2013.
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