Tuesday, April 28, 2009

Natural Gas Storage in Sacramento, CA

The state Public Utilities Commission will hold a public hearing in Sacramento on Tuesday about the proposed Sacramento Natural Gas Storage project.

The PUC will hold a meeting on the project’s draft environmental impact report, followed by a 7 p.m. hearing during which it will take public comments. Both events will be held in the Depot Park conference center at 8215 Ferguson Ave.

Sacramento Natural Gas Storage LLC, founded by Donald B. Russell, Jim Fossum and Derek Jones, plans to build and operate a facility that would store up to 7.5 billion cubic feet of natural gas underground in south Sacramento. It would hook up to a Sacramento Municipal Utility District pipeline to provide natural gas to fuel the Cosumnes Power Plant.

SMUD has signed a 20-year contract to store natural gas at the site. Sacramento Natural Gas Storage plans to sign up other customers if the project receives approval from the PUC and the city of Sacramento.

Last year the company raised $60 million for the project from group of investors led by Wells Fargo Energy Capital Inc., a non-bank subsidiary of Wells Fargo & Co.

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