CALICHE DEVELOPMENT PARTNERS II ANNOUNCES OPEN SEASON FOR EXPANSION PROJECT AND FIRM NATURAL GAS STORAGE SERVICE AT FACILITY IN BEAUMONT

HOUSTON, May 16, 2023 /PRNewswire/ -- Caliche Development Partners II (Caliche or Caliche II) announced today that it is holding a non-binding Open Season. The process begins 9:00 AM Central Time on Tuesday, May 16, 2023 and concludes at 11:59 AM Central Time on Friday, June 16, 2023, for natural gas Firm Storage Service under Rate Schedule FSS in support of the development of two additional natural gas storage caverns at Golden Triangle Storage, LLC (GTS), the company's FERC regulated, interstate facility located in Beaumont, TX. GTS has a twin 24-inch pipeline header connecting seven major pipeline interconnects in the active Beaumont- Port Arthur market hub (TETCO, FGT, HPL, KM Texas, Golden Pass Pipeline, Natgasoline, and DCP) and it is also soliciting interest in potential new connections to its facilities, including Whitewater – Blackfin, Venture Global – CP Express, Sempra – PAPTC, and Targa – Apex Intrastate Pipeline.

The Open Season will provide prospective customers with the opportunity to bid for up to 14 billion cubic feet (8 Bcf in cavern three and 6 Bcf in cavern four) of FSS capacity on a multi-year basis. Bids for between 0.5 Bcf and a full cavern of capacity will be accepted and evaluated. Injection and withdrawal rights will be limited to 600 MMcf/d per expansion cavern, totaling 1.2 Bcf/d for both expansion caverns. Bids for capacity must include a minimum of a 5-year term, with GTS giving greater consideration for longer terms (up to 20 years). GTS will not award any capacity pursuant to this Open Season until after economic analysis. All bids submitted during the Bid Period will be treated as being received at the same time.

"Expansion of our recently acquired GTS facility brings additional firm deliverability to a region with increasing demand for storage to support variable power loads and LNG export activities, and we believe our focus on safe operations and the combined reliability of the four caverns place our team in a position to support customers looking for that safety, deliverability and reliability," said Dave Marchese, Chief Executive Officer of Caliche.

Firm Storage Service made available through this Open Season is expected to support commencement of gas injections into storage in April 2026 and April 2027, respectively.

For information regarding Caliche II's Open Season or to submit non-binding bids for storage capacity, please contact Sam Wallace, VP of Commercial ([email protected]) or Jason Evans, Manager of Commercial Operations ([email protected]). Bid Forms may be found on the GTS Information Posting Website under the "Notices" section at http://www.gasnom.com/ip/goldentriangle. Additional information is available at https://calichestorage.com/gts.

About Caliche Development Partners II

Caliche Development Partners II is a Houston, Texas-based company focused on the acquisition, development, construction, ownership, and operation of subsurface natural gas and industrial gas storage assets, as well as carbon sequestration in North America. The Caliche management team previously developed and sold the Coastal Caverns site on the historic Spindletop salt dome. GTS and Central Valley Gas Storage, LLC, which were recently acquired by Caliche II, are located in Jefferson County, Texas and Colusa County, California, respectively.

Caliche is committed to leading infrastructure development companies in sustainability. Specifically, it is leveraging its expertise and relationships with large-scale emitters to spur the global energy transition from coal via the optimization of existing natural gas assets, hydrogen infrastructure and new carbon capture operations. The company supports new energy transition legislation and sits on the Carbon Neutral Coalition's Advisory Board. For more information, please visit www.CalicheStorage.com. 

SOURCE Caliche Development Partners, LLC