Independent storage is ready for Hackberry policy

The US Federal Energy Regulatory Commission needs to create a regulatory environment conducive to the continued development of natural gas storage capacity. The National Petroleum Council’s 2003 study projected that 700 bcf of new storage capacity will be needed to accommodate growth in the natural gas market.1FERC’s 2002 Hackberry policy has been credited with spurring much needed investment in LNG import terminals in the US.2 Under the Hackberry policy, the parties determine by contract the rates, terms, and conditions of LNG terminalling services and are not bound by FERC’s open-access rules, including open seasons for assigning capacity, regulated rates, or standardi...

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