Bay Gas Storage Begins Development of a Third Natural Gas Storage Cavern.MOBILE, Ala. -- Bay Gas Storage Co. LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability ., a subsidiary of EnergySouth, Inc. (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), will begin development of its third underground natural gas storage cavern and related facilities in May 2005. Designed to add 5.0 Bcf of working gas capacity, the initial phase of the new cavern is expected to be in service by the summer of 2007. Bay Gas also announced that it reached an agreement with BP Energy Company to supply storage services, subject to receipt of approvals and other arrangements satisfactory to Bay Gas Storage and completion of the expanded storage capacity. The Company said negotiations continue with additional interested parties. "The third cavern expansion is consistent with the market interest we received from our recent open season and reinforces our status as a proven provider of storage services in the region," said Greg Welch, 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 Co., LTD. Bay Gas Storage currently operates two salt-dome natural gas storage caverns at its storage facility located about 40 miles north of Mobile. The company has direct pipeline interconnects with 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. Company, Gulf South Pipeline and Mobile Gas Service Corporation. Bay Gas Storage's two existing caverns have a combined working gas capacity of approximately 6.0 Bcf with injection and withdrawal capacities of 200 MMcf and 610 MMcf per day, respectively and are currently 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 on a firm basis. |
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