Dubbed as Trinity Gas Storage, the natural gas storage facility is planned to have an initial capacity of around 24 billion cubic feet

Two storage tanks at oil refinery

Trinity Gas Storage plans to develop a natural gas storage facility in East Texas. (Credit: jupiterimages/Freeimages)

Trinity Gas Storage said that it has closed financing to advance the development of its greenfield natural gas storage facility in East Texas with private equity firm Transition Equity Partners (TEP).

Dubbed as Trinity Gas Storage, the natural gas storage facility is planned to have an initial capacity of around 24 billion cubic feet (Bcf). It will be exclusively developed by Sage Creek Energy Partners in Anderson County.

Trinity Gas Storage has secured investment to meet the capital needed for finalising engineering for the gas storage project. It aims to reach Notice to Proceed (NTP) for the project in Q1 2023.

The project holding company is said to have obtained a majority of the necessary contracts needed to reach NTP. Its natural gas storage facility is expected to begin commercial operations in the second quarter of 2024.

Trinity Gas Storage CEO Jim Goetz said: “The entire TEP team brings a wealth of knowledge and commitment to developing transitional energy projects to improve and secure environmentally sound energy infrastructure. This financing marks a significant milestone toward reaching commercial operations early next year.

“We have a committed and highly experienced team who have worked tirelessly to close this financing in preparation to make Trinity Gas Storage the best in class for Texas.”

The new facility is expected to have a key role in delivering electrical reliability by balancing and underpinning the growing renewable energy supply in Texas. Besides, it will provide energy security and reliable gas service for Texan residents, businesses, and industries.

Transition Equity Partners managing partner Pat Eilers said: “Trinity will play an important role in Texas’ energy transition, complementing robust intermittent renewables development with firm reliable natural gas, and helping to alleviate pressure on the state’s natural gas infrastructure anticipated to be created by a burgeoning US LNG industry on the US Gulf Coast.

“TEP believes that energy security, electrical reliability and affordability are key components of a responsible ESG strategy.”

According to Sage Creek Energy Partners, the Trinity Gas Storage facility can eventually be expanded to more than 50Bcf of working gas capacity with firm, uninterrupted delivery of natural gas of over 1.75Bcf/d.

The project is made up of two separate depleted natural gas reservoirs, which are adjacent to each other.