ENSTOR Announces Open Season for Katy, Alberta, and Grama Ridge Firm Storage Service.HOUSTON & CALGARY, Alberta -- The ENSTOR family of companies will begin accepting binding bids for firm storage capacity on February 1, 2007. Bids will be due by 5:00 p.m. CST CST abbr. 1. Central Standard Time 2. convulsive shock treatment CST Central Standard Time Noun 1. on March 16, 2007 and will be binding until 5:00 p.m. CST on March 23, 2007. All bids for storage at a facility will be subject to the terms and conditions set forth by that facility. The demand for storage has steadily risen with the increase in volatility and uncertainty in the natural gas market. An unexpectedly warm first quarter in the U.S. pushed prices sharply lower during 2006. Front month natural gas prices on the New York Mercantile Exchange New York Mercantile Exchange (NYMEX) The world's largest physical commodity futures exchange. (NYMEX See New York Mercantile Exchange. NYMEX See New York Mercantile Exchange (NYM). ) tumbled 73 percent from the peak of $15.378 per MMBtu on December 13, 2005 to $4.201 per MMBtu on September 27, 2006 leaving many market participants at risk for large financial losses. The need to hedge in Verb 1. hedge in - enclose or bound in with or as it with a hedge or hedges; "hedge the property" hedge inclose, shut in, close in, enclose - surround completely; "Darkness enclosed him"; "They closed in the porch with a fence" such an uncertain climate is more vital than ever. "Natural gas storage is a hedge against volatility," said Matt Morrow, president of Enstor Operating Company operating company A business that engages in transactions with outsiders. . "Customers have the option to inject or withdraw at any time based on market activity. Firm storage provides hundreds of hedging and arbitrage possibilities to customers in all market segments." The ENSTOR Katy Storage Hub is interconnected with 13 interstate and intrastate pipelines with a total storage capacity of 21 Bcf and a maximum deliverability of 700,000 MMBtu/d. The Katy Storage Hub is located at the crossroads between the Texas intrastate, East Coast, Gulf Coast and Midwest markets. This facility can also be utilized as a header system providing wheeling services to customers in this area. The ENSTOR Grama Ridge storage facility is located in southeast New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). and is interconnected with the El Paso El Paso (ĕl pă`sō), city (1990 pop. 515,342), seat of El Paso co., extreme W Tex., on the Rio Grande opposite Juárez, Mex.; inc. 1873. pipeline in the Keystone pooling area. Grama Ridge has a total storage capacity of 6 Bcf and a maximum deliverability of 125,000 MMBtu/d. The ENSTOR Alberta Hub storage facility is strategically located in central Alberta on TransCanada's NGTL NGTL Nova Gas Transmission, Limited System, which has indirect access to markets in the U.S. Northeast, U.S. Midwest, Pacific Northwest, California and Canada. The ENSTOR Waha Storage Hub is currently under construction in west Texas and will interconnect with eight interstate and intrastate pipelines. The Waha storage facility is expected to have 9.5 Bcf of total working capacity and a maximum daily deliverability of 800,000 MMBtu/d. This facility could also be utilized as a header system allowing customers to capture value between various pipeline locations. A separate open season will be conducted at a later date for this facility. Parties interested in bidding for firm storage at any of the ENSTOR storage facilities should contact Theresa Branney at 281-374-3078 for further information or visit www.enstorinc.com. |
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