UGI Storage Company has been approved by the Federal Energy Regulatory Commission (FERC) to acquire, own and operate 14.7bcf of underground natural gas storage from UGI Central Penn Gas (UGI CPG).
The company has also been awarded the right to sell storage services at market-based rates.
UGI Storage Company is owned by UGI Energy Services (UGIES), a wholly owned subsidiary of UGI Corporation.
The storage facilities currently are operational and service from UGI Storage Company will be available to the marketplace beginning with the upcoming gas injection season on 1 April 2011.
The storage service is provided from three underground storage fields located in Tioga, Potter and Cameron Counties in north-central Pennsylvania.
An open season will begin on 17 January 2011 that will be used to solicit market-based bids for storage service.
The open season will close on 16 February 2011.