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Thu, October 21, 2010Wed, October 20, 2010Tue, October 19, 2010Mon, October 18, 2010Fri, October 15, 2010Thu, October 14, 2010Wed, October 13, 2010Tue, October 12, 2010Mon, October 11, 2010Sun, October 10, 2010Fri, October 8, 2010Thu, October 7, 2010Wed, October 6, 2010Tue, October 5, 2010Mon, October 4, 2010Sun, October 3, 2010Fri, October 1, 2010Thu, September 30, 2010Wed, September 29, 2010Tue, September 28, 2010Mon, September 27, 2010Fri, September 24, 2010Thu, September 23, 2010Wed, September 22, 2010Tue, September 21, 2010Mon, September 20, 2010Sun, September 19, 2010Fri, September 17, 2010Thu, September 16, 2010Wed, September 15, 2010Tue, September 14, 2010Mon, September 13, 2010Fri, September 10, 2010Thu, September 9, 2010Wed, September 8, 2010Tue, September 7, 2010Fri, September 3, 2010Gill Ranch Storage, LLC Goes into Service with 20 Bcf Natural Gas Storage Facility for California Customers
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Published in Stocks and Investing on Monday, October 4th 2010 at 4:11 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
FRESNO, Calif.--([ BUSINESS WIRE ])--Gill Ranch Storage, LLC, (GRS) a subsidiary of NW Natural (NYSE: NWN), today announced it has started service from a new underground natural gas storage facility at Gill Ranch near Fresno, which will ultimately provide 20 billion cubic feet of working gas capacity to the California market. GRS will be the operator of the facility, which uses depleted sandstone natural gas reservoirs, and will own 75 percent of the facility. Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE: PCG), will own the remaining 25 percent.
"The demand for flexible storage capacity is expected to continue to grow with increasing reliance on natural gas for power generation as the state works to meet its carbon-reduction goals."
aGoing into service marks a key milestone in the development of the Gill Ranch Storage facility,a said Rick Daniel, President of Gill Ranch Storage, LLC. aAs this facility achieves its full capacity over the next couple of years, it will be an important addition to the energy infrastructure in California.a Daniel noted, aThe demand for flexible storage capacity is expected to continue to grow with increasing reliance on natural gas for power generation as the state works to meet its carbon-reduction goals.a
He noted that the GRS project created nearly 500 local jobs during the construction phase and an estimated 9 employees will work at the state-of-the-art storage facility during initial operation. According to Daniel, about 70 percent of the construction crews were residents from nearby counties.
About Gill Ranch Storage, LLC & NW Natural
Gill Ranch Storage, LLC is a wholly owned subsidiary of Northwest Natural Gas Company, dba NW Natural, whose predecessors have been providing gas service to the Pacific Northwest since 1859. NW Natural, based in Portland, Oregon, provides safe, reliable, cost-effective natural gas service to about 670,000 residential, commercial, and industrial customers through 15,000 miles of mains and service lines in western Oregon and southwestern Washington. Since 1989, the company has operated its 16 Bcf Mist underground storage field to serve its utility customers and the regional interstate storage market. With todaya™s announcement, NW Natural and its subsidiaries now own approximately 31 Bcf of combined underground gas storage capacity. NW Natural formed Gill Ranch Storage to serve the California market. Additional information is available at [ www.gillranchstorage.com ] or [ www.nwnatural.com ].
