Bids for up to 2 BCF of Peak Storage Service at Dawn
CHATHAM, ON, April 4, 2016 /PRNewswire/ - Beginning today, Union Gas will conduct a binding open season for Peak Storage Service at its Dawn Hub storage facility starting April, 1, 2017 or April 1, 2018.
Shippers seeking access to flexible, customized premium storage for peaking service needs can submit bids up to 2 BCF for two service options:
- Peak Storage Service – a firm storage service, with a term of two to ten years, with rights to be full through the critical fall period. Shippers can choose one of several standard service options or fully customize the service to their specific requirements.
- Additional Firm Injections and Withdrawals – for shippers with existing firm storage service or shippers who wish firm injections and withdrawals in excess of the parameters offered in the open season.
"Union Gas' Peak Storage Service offers shippers unparalleled flexibility to meet their requirements, and reduce operational costs," said Jim Redford, vice president of business development storage and transmission for Union Gas.
Benefits for shippers include the ability to:
- Capture daily, monthly and seasonal price volatility/spreads
- Balance demand and supply needs - meet peaking requirements, diversify supply and protect downstream markets
- Hedge commodity purchases - fixed gas costs and protection from gas price run-ups
- Improve load factor on upstream and downstream pipelines by right sizing storage
- Bundle storage with other services like C1/M12 transportation to satisfy market opportunities in Ontario, Quebec, and the U.S. Northeast
The Union Gas Dawn Hub is one of the largest integrated natural gas storage facilities in North America. Strategically located in southwestern Ontario, Dawn provides shippers with direct access to North America's major supply basins including Utica and Marcellus. With multiple supply routes from western Canada, mid-continent, the Rockies, and the Gulf of Mexico, as well as the ability to serve markets in the mid-west, eastern Canada and the U.S. Northeast, the Union Gas Dawn Hub is a reliable, secure, and liquid natural gas trading hub.
The open season closes at 2 p.m. Eastern Time on April 20, 2016.
Additional information can be found at: visit uniongas.com/openseason. For additional questions, please contact your Union Gas Storage and Transportation Account Manager:
- Jacquie Montgomery (519) 436-5452
- Matt Thomas (519) 436-4553
About Union Gas
Union Gas Limited is a major Canadian natural gas storage, transmission and distribution company based in Ontario with over 100 years of experience and service to customers. Union Gas' storage and transmission business offers a variety of storage and transportation services to customers at the Dawn Hub, the largest integrated underground storage facility in Canada and one of the largest in North America. The Dawn Hub offers customers an important link in the movement of natural gas from Western Canadian and U.S. supply basins to markets in central Canada and the northeast U.S. Union Gas, one of Canada's Top 100 Employers for 2016, is a Spectra Energy (NYSE: SE) company with assets of $7.2 billion and approximately 2,300 employees. For more information, visit uniongas.com or find us on Twitter: twitter.com/uniongas, Facebook: facebook.com/uniongas and YouTube: youtube.com/user/uniongas.
SOURCE Union Gas Limited