Bay Gas Storage Announces Open Season and Planned Expansion.MOBILE, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. . -- Bay Gas Storage Co. Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ENSI), announced today that it will hold a non-binding Open Season for 10.0 Bcf of natural gas storage capacity at its facility in McIntosh, Alabama McIntosh is a town located in Washington County, Alabama, along U.S. Highway 43. It is 12½ miles (20 km) south of Wagarville and 44 miles (71 km) north of Mobile. As of the 2000 census, the population of the town is 244. . The open season relates to the planned development of two new 5.0 Bcf. high-deliverability, underground caverns in the McIntosh salt-dome, together with planned pipeline interconnects with Transco (Station # 85) and SONAT (York, Alabama York is a city in Sumter County, Alabama, United States. At the 2000 census the population was 2,854. Geography York is located at (32.493221, -88.297845)GR1. According to the U.S. ). The new caverns and pipeline interconnects are scheduled to begin service by the fall of 2009. The Company now operates two storage caverns with a total working gas capacity of 6.0 Bcf with direct interstate pipeline connections to Florida Gas Transmission Florida Gas Transmission is a natural gas pipeline which brings gas from Texas, Louisiana, Mississippi, and Alabama into Florida. It is owned by 50% by Southern Natural Gas and 50% by CrossCountry Energy. Its FERC code is 34. and Gulf South Pipeline and indirect connects to Destin, Gulf Stream, and Transco pipelines. A third cavern, currently in development, will add an additional 5.0 Bcf storage. Existing caverns, one and two, are fully subscribed Fully Subscribed A situation in which an underwriting firm has successfully sold to investors all of its available issues of a public offering of securities. When the issue is fully subscribed, the underwriter's risk of being undersubscribed (being unable to sell its allotment of , and cavern three reached full subscription well in advance of its expected fall 2007 in-service date. "Today, Bay Gas Storage represents over 40% of EnergySouth's earnings. Having reached full subscription in cavern three and with the prospect of an additional 10 Bcf from caverns four and five, Bay Gas Storage will be the dominant driver of earnings growth for EnergySouth," said Dean Liollio, President and Chief Executive Officer, EnergySouth, Inc., parent company of Bay Gas Storage. "We believe additional market opportunities for salt-dome storage services exist in the mid-south region and along the east coast, and we plan to establish interconnects with the SONAT and Transco systems as a part of this expansion project," said Greg Welch Greg Welch a.k.a. Mighty Mouse (born in 1966 in Campsie, Sydney, Australia) is an Australian Ironman Triathlete. He is acknowledged as one of the greatest triathletes due to his remarkable dominance in winning the "The Grand Slam" which includes the Olympic Distance Triathlon World , President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , Bay Gas Storage Company, Ltd. "Our interconnects will be eastern-most of all salt-dome storage in the southeast and will provide shippers on those pipelines access to over 20 Bcf of high-deliverability storage," said Welch. The Open Season begins on October 5th and ends on November 3rd. An expression of interest form can be found on the website and should be faxed by the close of the open season to the attention of David Hayden, VP of Business Development at (251) 450-4866. For more information on the open season, contact David Hayden (251) 450-4747 or e-mail to dhayden@bay-gas.com. Bay Gas Storage's decision to move forward with the construction of the project is subject to obtaining all appropriate regulatory approvals and the execution of definitive agreements on terms and conditions acceptable to Bay Gas Storage. Bay Gas Storage Company, Ltd. (www.bay-gas.com) is a subsidiary of EnergySouth, Inc. (NASDAQ: ENSI). EnergySouth, Inc. (www.energysouth.com) is the parent company for a group of energy-related subsidiaries operating in the storage and distribution segments of the natural gas industry. |
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