Inergy LP has closed on its acquisition of the Seneca Lake gas storage facility in Schuyler County, NY, and two related pipelines for about $65 million from New York State Electric & Gas Corp. Seneca Lake is a 2 Bcf salt cavern storage facility on Inergy’s U.S. Salt property outside Watkins Glen, NY. It has a maximum withdrawal capability of 145 MMcf/d and maximum injection capability of 72.5 MMcf/d. Seneca Lake is connected to the Dominion transmission system via the Seneca West Pipeline and indirectly to the citygate of Binghamton, NY, via the Seneca East Pipeline. The deal was announced in January 2010 (see Daily GPI, Jan. 12, 2010). It required the approval of the Federal Energy Regulatory Commission as well as that of the New York State Public Service Commission.
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Inergy LP subsidiary Inergy Midstream LLC said it is buying the Seneca Lake natural gas storage facility in Schuyler County, NY, and two related pipelines from New York State Electric & Gas Corp. (NYSEG) for about $65 million. Seneca Lake is an approximately 2 Bcf salt cavern facility on Inergy’s US Salt property outside Watkins Glen, NY, and has a maximum withdrawal capability of 145 MMcf/d and maximum injection capability of 75 MMcf/d. Seneca Lake at close of the acquisition is expected to be contracted with a weighted average maturity of its firm storage capacity extending to 2015. Inergy said it anticipates closing the transaction by mid-2010.
New York Storage Facility Changing Hands
Inergy LP subsidiary Inergy Midstream LLC said Monday it is buying the Seneca Lake natural gas storage facility in Schuyler County, NY, and two related pipelines from New York State Electric & Gas Corp. (NYSEG) for about $65 million.
Inergy Beefs Up New York Storage with US Salt Deal
Inergy subsidiary Inergy Midstream LLC has agreed to buy 100% of the membership interest in US Salt LLC, a mining and salt production company in Schuyler County, NY, between Inergy’s Stagecoach and Steuben County natural gas storage facilities.
Pipeline Pieces Coming Together to Serve the Northeast
Empire State Pipeline’s Empire Connector project is on track to be completed and in service in the fall of 2008 following recent project developments, parent National Fuel Gas Co. said last week. The project is just one piece of the pipeline puzzle coming together to move more gas to the Northeast.
