NDR Energy partners with utility company for natural gas storage

May 9, 2012 By    

NDR Energy Group LLC, a propane and natural gas marketer, has signed an agreement with Southern California Gas Co. to obtain facilities storage services for growth and expansion of its natural gas business.

Southern California Gas delivers natural gas to about 20.9 million customers on the West Coast, and it owns and operates 134 billion cubic feet of underground gas storage. Sempra Energy is the parent company of Southern California Gas, and it is traded on the New York Stock Exchange, reporting revenues of $10 billion in 2011.

NDR Energy will now sell natural gas to Southern California Gas’ 28 utility customers and engage in gas futures contracts, spot market sales, physical gas trading and financial gas trading.

“This deal allows us to buy, store and sell natural gas in larger quantities while taking advantage of the fluidity of natural gas prices,” says Ken Harris, NDR Energy president. “We are very bullish about the future of natural gas and are starting to see the beginning of strong and steady growth in natural gas futures.”

About the Author:

Kevin Yanik was a senior editor at LP Gas Magazine.

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