Inergy is to acquire Tres Palacios Gas Storage, which owns the Tres Palacios natural gas storage facility, for $725m in Texas, US.
The facility is a salt dome natural gas storage unit with about 38.4bcf of working gas capacity including 27.1bcf of working gas capacity in Caverns 1 and 2.
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The facility will also have an additional working gas capacity of 11.4bcf when Cavern 3 is commissioned in the last quarter of 2010.
When Cavern 4 enters service in 2014 the working gas capacity will further expand by 9.5bcf.
Tres Palacios has a greater than six-turn gas storage capability with a maximum withdrawal capacity of 2.5bcf per day and a maximum injection capacity of 1bcf per day.
Tres Palacios also provides future expansion opportunities for the Markham salt dome.
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By GlobalDataIf fully developed the Markham salt dome will be able to support over 150bcf of natural gas storage capacity.
