GE Energy Financial Services of Stamford, Bobcat Gas Storage and Bobcat”™s owners Haddington Energy Partners have opened one of the newest natural gas storage facilities in the U.S. in giant salt domes beneath Louisiana.
After nearly three years of development Bobcat Gas Storage began providing storage services to its customers on Nov. 1.
GE Energy Financial Services acquired an initial preferred equity interest in Bobcat last year for $65 million.Â
The St. Landry Parish, Louisiana site, an area of salt caverns, contains adequate space to expand with additional natural gas storage caverns in 2009.
Each cavern is fully surrounded by salt, beginning approximately 4,500 feet beneath the surface and extending to a depth of close to 6,000 feet.
“We overcame escalating construction and material costs, a direct hit by hurricane Gustav and extreme weather with hurricane Ike to complete this state-of-the-art cavern to meet our contractual commitments,” said Tom Dill, CEO of Bobcat. “In this environment, this is a huge win for Bobcat. With its superior location and flexibility of services, Bobcat will continue to grow our business to serve a diverse group of customers.”
