DENVER, April 22, 2016 /PRNewswire/ -- On April 11, 2016, Mountaineer NGL Storage, LLC began its non-binding open season for up to 1.6 million barrels of initial storage capacity with more than 25,000 bbls per day of load-in and load-out.
David Hooker, managing director of Mountaineer NGL Storage, says that response has been even better than anticipated. "In the first 11 days of this open season, it has become very clear that there is a critical need for a natural gas liquids storage facility in the region," said Mr. Hooker. "The Mountaineer NGL Storage Project near Clarington, Ohio, along the Ohio River will offer a highly flexible service that can be tailored to customers' needs. We intend to develop an on-demand asset that will help our clients manage their specific requirements."
The Mountaineer NGL Storage Project open season concludes at 5:00 p.m. Central Time on Monday, May 9, 2016.
The Mountaineer NGL Storage Project will provide storage services to a growing number of gas processors, producers, markets and commodity traders that are interested in exploiting the wet gas production from the Marcellus/Utica shales. The project will be designed to store ethane, propane, butane and y-grade products.
Mr. Hooker said that construction is currently scheduled to begin in 2017, with storage capacity becoming available by mid-2018.
The project will use the subsurface Salina salt formation as the storage zone. It is located in the heart of the Marcellus/Utica wet gas shale play, and is perfectly placed to provide service to the expanding network of pipelines, rail and barge infrastructure that is currently being built to transport Marcellus and Utica natural gas liquids throughout the Northeast, Mid-Atlantic, Mid-Continent and Gulf Coast.
About Mountaineer NGL Storage, LLC
Mountaineer NGL Storage, LLC is a Denver, Colorado-based privately held energy company that develops, owns and operates the Mountaineer NGL Storage Project. Mountaineer is owned by its management team and has a project development agreement with private equity sponsor West Street Energy Partners, LP, an investment fund managed by the Goldman, Sachs & Co. Learn more at www.mngls.com.
Mountaineer NGL Storage, LLC
26 Village Drive
Littleton, Colorado 80123
Phone: (720) 318-9738
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SOURCE Mountaineer NGL Storage, LLC