Caledonia Energy Partners LLC (CEP) is holding an open season through May 5 for 1.7 Bcf of natural gas storage capacity at its facility, which is under development near Caledonia, MS. The Dallas-based company is converting a depleted gas reservoir into a high-deliverability, multi-cycle storage facility capable of storing 11.7 Bcf of working gas. The storage facility will be interconnected with Tennessee Gas Pipeline's 500 Leg, Zone 1, in Lowndes and Monroe Counties, MS. Current plans provide for the facility to deliver a maximum of 330,000 Mcf/d and up to four cycles per year. The facility is expected to go into service in the spring of 2007. Tenaska Power Fund LP, a private equity limited partnership, holds a 50% stake in CEP, and Tenaska Caledonia LLC will provide marketing support for the facility. Tenaska Caledonia will administer the open season for the 1.7 Bcf of capacity not yet under contract, as well as manage the nominations, scheduling and balancing of the storage contracts and marketing of interruptible services. Details are available at http://www.caledoniastorage.com. For more information about the project, contact Karen Swett at (402) 938-1632 or email@example.com.
With natural gas futures continuing to climb higher from a low of $6.45 on March 8, the New York Mercantile Exchange Inc. (Nymex) said last week that it increased some margins for its natural gas, Nymex miNY natural gas, Henry Hub swing swap, Henry Hub swap, and Henry Hub penultimate swap futures contracts. The changes went into effect at the close of business on Friday.
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