Bay Gas Storage Company, Ltd. Announces Open Season.Business Editors & Energy Writers MOBILE, Ala.--(BUSINESS WIRE)--Dec. 17, 2002 Bay Gas Storage Company, Ltd. announced today that it will conduct an "Open Season" to assess interest in the expansion of its natural gas storage facilities. Bay Gas Storage, 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), is located near Mobile, Alabama, and is easternmost among salt-dome storage facilities in the region. The facility currently consists of a single 2.2 Bcf (working gas) cavern, with direct 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. , Gulf South Pipeline and Mobile Gas Service Corporation. A second cavern is set to go into service in April 2003 at a size of 2.5 Bcf. Expanded surface facilities were completed November 30, 2002, increasing total injection and withdrawal to 225 MMcf and 610 MMcf per day, respectively. In making the announcement, John S. Davis, President and Chief Executive Officer of EnergySouth, Inc., said: "We are substantially complete with Phase I of our second cavern. While that capacity is 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 , the open season will help us quantify interest in Phase II capacities and third-cavern development." Commenting on Bay Gas Storage Company's uniquely attractive location, Gregory H. 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. of Bay Gas Storage, said, "Our close proximity to both Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east production and the growing market for that gas in the southeastern United States make us a natural choice for customers who need high-deliverability storage." The open season will begin on December 17, 2002 and end on January 17, 2003. Bay Gas Storage is currently approved by FERC FERC Federal Energy Regulatory Commission FERC FEMA Emergency Response Capability for "market-based" rates and will seek similar treatment for any expansion. For additional information on EnergySouth, Inc. and its expansion of Bay Gas Storage Company please contact Greg Welch at (251) 450-4749 or email at gwelch@bay-gas.com, or visit our web site at www.bay-gas.com. |
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