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Sempra Acquires Salt Mines for Future Storage

Sempra Energy’s Pipelines & Storage unit announced Sept. 13 that it has acquired 75 percent ownership of three salt mines and more than 150 acres of property in Cameron Parish, La.

The salt mines represent between 10 billion and 12 billion cubic feet of potential natural gas storage capacity and the property will be developed into a natural gas storage project.

George Liparidis, president of Sempra Pipelines & Storage, proverbially cited location as the reason for the land acquisition.

“This area in Louisiana is strategically located to capture natural gas storage opportunities as natural gas infrastructure continues to be added in the Gulf Coast region,” Liparidis said.

The 25 percent owner is ProLiance Transportation and Storage LLC, an affiliate of Indianapolis-based ProLiance Energy LLC.

Richmond, Va.-based gas facility operator Dominion was the seller. Financial terms of the acquisition were not disclosed.

According to Liparidis, once developed, the natural gas storage facility would be an extension of Pipelines & Storage’s Calcasieu Parish facility, Liberty Gas Storage LLC, currently under construction.

The facility is scheduled for completion by the end of the year.

Sempra Energy is traded on the New York Stock Exchange under the ticker symbol SRE and closed Sept. 13 at $49.17, down 66 cents from the previous day’s close.

, Andy Killion

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