By OGJ editors
HOUSTON, Apr. 28 -- Duke Energy Gas Transmission (DEGT) plans to acquire, for $62 million, natural gas storage and pipeline assets in southwest Virginia and the remaining 50% interest in Saltville Gas Storage LLC from AGL Resources, an Atlanta, Ga., energy services holding company.
DEGT of Houston already owns 50% of Saltville Storage, which has a working gas capacity of 2 bcf. Closing is expected in the third quarter.
The acquisition will grow DEGT's natural gas salt storage position in the mid-Atlantic area and lead to enhanced supply options for shippers on the facilities of subsidiary East Tennessee Natural Gas Pipeline.
Other assets acquired in the transaction include a developed salt cavern with a working gas capacity of 1 bcf and related facilities; a 77-mile, 8-in. gas pipeline known as the P-25 line; and the Early Grove storage field, which is a depleted gas reservoir with a working capacity of 1.5 bcf.
