EnergySouth Midstream Completes Successful Binding Open Season
16 Julio 2008 - 6:30PM
Business Wire
EnergySouth Midstream announced today the results of the recently
completed open season for long term firm storage services for the
4th Cavern at Bay Gas Storage�s facility in McIntosh, Alabama.
Customer bids exceeded five times the capacity offered. Bay Gas has
commitments for 92% of the 5 BCF expansion capacity and expects the
remainder to be contracted by year end. Customer interest in firm
storage services at Bay Gas and the Mississippi Hub facility
remains strong and contracting activity has steadily gained
momentum as the 1st Quarter 2010 in-service dates draw nearer. At
the Mississippi Hub project, long term commitments are in place for
a majority of the 7.5 Bcf of capacity in cavern #1. In an earlier
open season, EnergySouth Midstream received non-binding expressions
of interest for over three times the capacity offered in the first
cavern. Negotiations are ongoing with interested parties and
EnergySouth Midstream expects to have contracts in place for the
remaining capacity for Cavern 1 at Mississippi Hub by year end.
Russell Murrell, Vice President of Business Development for
EnergySouth Midstream, Inc. stated, �The market for Gulf Coast
storage is clearly building momentum as customers gain more clarity
on which projects are geologically and economically viable, as well
as strategically located on the natural gas grid. The robust level
of customer interest we continue to receive shows that both of our
projects stand front and center in any analysis of those factors.�
EnergySouth Midstream, Inc. is a subsidiary of EnergySouth, Inc.
(NASDAQ: ENSI), www.energysouth.com. EnergySouth, Inc. is the
parent company of a group of energy related subsidiaries operating
in the midstream and distribution segments of the natural gas
industry.
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