PPM Energy begins Texas salt cavern gas storage development

PPM Energy Inc.—formerly Portland, Ore.-based PacifiCorp Power Marketing Inc.—has begun development of its $74 million Waha Hub and salt cavern natural gas storage facility in West Texas. Development will take place in three phases during the next 6 years, with the first phase operational by 2006, reported parent company ScottishPower, Glasgow.

April 7, 2004

By OGJ editors

HOUSTON, Apr. 7 -- Renewable energy company PPM Energy Inc.—formerly Portland, Ore.-based PacifiCorp Power Marketing Inc.—has begun development of its $74 million Waha hub and salt cavern natural gas storage facility in West Texas. Development will take place in three phases during the next 6 years, with the first phase operational by 2006, reported parent company ScottishPower, Glasgow.

The 7.2 bcf storage site, located 3 miles from the existing Waha Hub, a major trading center with good pipeline access, was part of assets PPM acquired in December 2002 to expand its natural gas storage business.