Union Takes Bids for 6.5 Bcf of Storage
Union Gas launched an open season for up to 6.5 Bcf of long-term working storage capacity and said it was willing to consider expanding if market demand is sufficient. The storage space available in the open season is for periods of three years or greater with injections beginning in April 2002. Bids are due July 31 and the capacity will be awarded by Aug. 31.
Union also noted that its Dawn storage complex is expected to see rapid growth again this year. During the first three months of 2001, Dawn has handled an average of over 14 Bcf of title transfers a day. Dawn is one of the fastest growing hubs in North America. In addition to physically handling over 1.2 Tcf of gas, Union Gas also processed an average of over 7.6 Bcf of title transfers a day --- double the amount of market activity in the previous year. The ratio of market activity to gas in storage is also growing at a remarkable rate. On average, every molecule of gas injected and withdrawn from storage is traded over 11 times --- making Dawn storage the most sought after storage in the Great Lakes region.
It is the largest gas storage facility in Canada. With seven pipeline interconnects --- three of which are TransCanada's --- Union Gas has easy access to 15 pipeline and distribution companies. Dawn storage has a working capacity of over 142 Bcf and can deliver over 2 Bcf a day for customers.
The open season introductory offer can be found in the both the business opportunities and storage sections of Pipeline Grapevine Online .
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