BRIEF-Caliche Announces FID for First Phase of Spindletop Natgas Storage Expansion in Texas

June 4 (Reuters) - CALICHE:

  • SAYS COMPANY THROUGH ITS SUBSIDIARY GOLDEN TRIANGLE STORAGE, LLC (GTS) ACHIEVED A FINAL INVESTMENT DECISION (FID) ON THE FIRST PHASE OF ITS SPINDLETOP EXPANSION PROJECT IN BEAUMONT, TEXAS ON JUNE 3

  • says DECISION BY CALICHE COMES SHORTLY AFTER THE PROJECT RECEIVED FEDERAL ENERGY REGULATORY COMMISSION (FERC) CERTIFICATE OF PUBLIC CONVENIENCE AND NECESSITY

  • PROJECT ALIGNS WITH GTS' THIRD AND FOURTH GAS CAVERN EXPANSIONS, WHICH ARE EXPECTED TO BE COMPLETED IN 2027.

  • ANNOUNCEMENT ALSO COINCIDES WITH RISING DEMAND FOR NATURAL GAS STORAGE, DRIVEN BY LNG EXPORTS, GEOPOLITICAL PRESSURES, ELECTRIFICATION, AND GROWING ENERGY NEEDS OF AI INFRASTRUCTURE


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