Sempra Pipelines & Storage, a unit of Sempra Energy (NYSE: SRE), today announced that its Mississippi Hub natural gas storage facility is now operational, as the first of its two caverns is placed in service.
“This is a significant milestone demonstrating our capabilities in developing greenfield midstream projects and our continued commitment to the development of natural gas storage projects in North America,” said George S. Liparidis, president and chief executive officer of Sempra Pipelines & Storage. “Mississippi Hub will provide high-quality storage services to expanding markets while serving a robust region for natural gas supply.“
Located at the Bond Salt Dome in Simpson County, Miss., Mississippi Hub is strategically positioned to access the shale basins of east Texas and Louisiana, traditional gas supplies in the Gulf of Mexico and along the U.S. Gulf Coast, as well as liquefied natural gas imports. With its multiple interstate pipeline interconnects, the facility is ideally located to serve growing demand centers in the southeast and northeast regions of the U.S.
Mississippi Hub’s Cavern 1 is designed to provide up to 10-cycle service on 7.5 Bcf of working gas capacity. Pipeline interconnects will include: Southern Natural Gas, Southeast Supply Header and Transcontinental Gas Pipeline. A second cavern, which will add an additional 7.5 Bcf of working gas storage capacity, is currently under construction at the facility and is slated for completion in the second quarter of 2012.
Sempra Pipelines & Storage develops, builds and operates natural gas pipelines and storage facilities throughout North America. The company and its affiliates currently operate and own 19 Bcf of storage capacity, with plans to develop as much as 75 Bcf by 2015 to help meet North America’s growing demand for natural gas storage. Sempra Pipelines & Storage also manages natural gas and electricity distribution in Argentina, Chile, Mexico, Peru and the U.S. Sempra Pipelines and Storage is a subsidiary of Sempra Energy, a San
Diego-based Fortune 500 energy services holding company.
This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words like “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates,” “may,” “would,” ”could,” “should,” or similar expressions, or discussions of strategies, plans or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Forward-looking statements are necessarily based upon various assumptions involving judgments with respect to the future and other risks, including, among others: local, regional, national and international economic, competitive, political, legislative and regulatory conditions and developments; actions by the California Public Utilities Commission, California State Legislature, California Department of Water Resources, Federal Energy Regulatory Commission, Federal Reserve Board, and other regulatory and governmental bodies in the United States and other countries where the company does business; capital market conditions and inflation, interest and exchange rates; energy and trading markets, including the timing and extent of changes and volatility in commodity prices; the availability of electric power, natural gas and liquefied natural gas; weather conditions and conservation efforts; war and terrorist attacks; business, regulatory, environmental and legal decisions and requirements; the status of deregulation of retail natural gas and electricity delivery; the timing and success of business development efforts; the resolution of litigation; and other uncertainties, all of which are difficult to predict and many of which are beyond the control of the company. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the Securities and Exchange Commission. These reports are available through the EDGAR system free-of-charge on the SEC’s website, www.sec.gov, and on the company’s website at www.sempra.com.
Sempra Pipelines & Storage, Sempra Generation, Sempra LNG and RBS Sempra Commodities dba Sempra Energy Solutions and Sempra Energy Trading are not the same companies as the utility, San Diego Gas & Electric (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra Pipelines & Storage, Sempra Generation, Sempra LNG and RBS Sempra Commodities dba Sempra Energy Solutions and Sempra Energy Trading are not regulated by the California Public Utilities Commission.
# # #