DENVER, May 24, 2016 /PRNewswire/ -- Mountaineer NGL Storage, LLC, announced the conclusion of a successful non-binding open season for its natural gas storage project near Clarington, Ohio. The open season resulted in requests for more than three times the amount of initial planned capacity.
David Hooker, managing director of Mountaineer NGL Storage, said that scaled development begins in late May. "We'll begin the permitting process for LPG storage, initiating a 3-D seismic shoot over the property, drilling a test well, and coring the salt to confirm its suitability for LPG storage," he said. The Mountaineer NGL Storage Project should break ground in early 2017 with a planned in-service date of early 2018.
The Mountaineer NGL Storage Project plans to offer up to 2 million barrels of initial storage capacity with more than 40,000 bbls per day of load-in and load-out. The project will store ethane, propane, butane and y-grade products for 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.
"We're pleased to see that the support of this project in the heart of the Marcellus/Utica wet gas shale play is as strong as it is," said Mr. Hooker. "The Mountaineer NGL Storage Project is strategically placed to provide service to the expanding network of pipelines, rail, truck, and barge infrastructure that is currently being built to transport Marcellus and Utica natural gas liquids throughout the Northeast and Mid-Atlantic. We're very excited to get started and look forward to offering the most flexible and reliable storage services to a host of future customers."
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 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