Monroe Gas Storage Company, LLC Announces a Non-Binding Open Season

HOUSTON, Aug. 1, 2011 /PRNewswire/ -- Monroe Gas Storage Company, LLC ("Monroe"), a wholly-owned subsidiary of Cardinal Gas Storage Partners LLC (www.cardinalgs.com), announced today the start of a non-binding, 15-day open season to gauge market interest in available capacity in its 12.0 Bcf multi-cycle, interstate natural gas storage facility located in Monroe County, MS.  This strategically located facility provides access to markets in the Midwest, Northeast and Southeast.  Through this non-binding open season, Monroe is soliciting market interest in subscribing to firm storage capacity in its FERC 7(c) Certificated facility and anticipates providing approximately three turn service.  This open season is for up to 8.5 Bcf of firm storage capacity, with 2.9 Bcf available October 1, 2011.  The facility interconnects with Tennessee Gas Pipeline Line 500 and Texas Eastern's 30-inch M-1 Zone as well as the potential to interconnect with the recently proposed Kennesaw Pipeline serving the Southeast.

"The continued growth of the shale development, the anticipated retirement/conversion of coal fired generation in the Southeast, combined with the large amount of pipeline infrastructure completed and proposed in this area further strengthens our belief that the Monroe facility will play an important and strategic role in the natural gas supply needs in this region of the US," said Jeff Ballew, President and CEO of Cardinal. 

The non-binding open season begins at 8:00 am CDT on August 1, 2011 and will end at 5:00 pm CDT on August 15, 2011.  A completed Monroe Expression of Interest Form should be faxed to Brad Ledbetter at 713-350-2575 by 5:00 pm CDT on August 15, 2011.  The Expression of Interest Form, maps and other information can be found on the Monroe web site at www.monroegasstorage.com or by contacting Brad Ledbetter at 713-350-2525 and email @ ([email protected]) or Brandy Clark at 713-350-2504 and email @ ([email protected]).  

Cardinal is a joint venture between Redbird Gas Storage LLC ("Redbird") and funds controlled by Energy Capital Partners, LLC ("ECP"). Since its inception in 2008, Cardinal has been focused on the development, construction, operation and management of natural gas storage facilities throughout North America. Cardinal also owns Perryville Gas Storage LLC, Arcadia Gas Storage LLC and Cadeville Gas Storage LLC and is in the process of developing additional natural gas storage infrastructure in North America. For more information, visit www.cardinalgs.com.

About Redbird Gas Storage LLC

Redbird is a joint venture formed by Martin Resource Management Corporation and Martin Midstream Partners L.P. (Nasdaq: MMLP) to invest in natural gas storage related opportunities through its ownership interests in Cardinal.

About Energy Capital Partners

Energy Capital Partners is a private equity firm with offices in Short Hills, New Jersey and San Diego, California. ECP is focused on investing in the power generation, electric transmission, midstream gas and renewable energy sectors of North America's energy infrastructure. The fund's management has substantial experience leading successful energy companies and energy infrastructure investments. For more information, visit www.ecpartners.com.

SOURCE Cardinal Gas Storage Partners LLC