Mercuria Energy Group Ltd. has invested in Black Bayou Energy Hub LLC — an early-stage gas storage facility in Louisiana — as the Geneva-based commodity trading house looks to build on its position in the gas industry, reports Rigzone.
The investment comes as the next wave of LNG export facilities comes online. Five new LNG projects or expansions are currently underway in Texas and Louisiana, with more planned.
The proposed facility calls for using an underground, naturally-forming salt cavern that then would be technically equipped to store an undisclosed amount of natural gas, a process employed by other existing natural gas storage facilities. Read more.
