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NYSE: AGL $33.72 -0.33
Nov 20 2009 3:48PM ET
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Project Information |
FAQ |
Safety |
Environment |
Economic Benefits |
Regulatory Process |
Community Engagement |
Newsletter |
Salt Dome Storage |
Natural Gas Pipeline |
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Economic Benefits
Golden Triangle Storage will help the local economy. The facility will provide jobs, creating up to 136 during construction and adding 11 permanent positions. In addition, property taxes, franchise taxes, sales taxes, utility payments, purchases of goods and services, and payroll all will contribute to the local economy. An economic impact study from Lamar University predicts the project will provide a direct monetary benefit to the region of more than $15 million during construction and another $5.4 million in annually once the facility is operational.
As importantly, Golden Triangle Storage also will strengthen the region’s position as a national energy center. The facility will
- Increase local storage capacity significantly, serving both domestic natural gas production and natural gas imports from area liquefied natural gas (LNG) terminals
- Provide greater flexibility in natural gas supply, increasing the amount of natural gas available to meet peak demand and helping stabilize prices
- Improve energy security when supplies are disrupted by hurricanes or other events
- Serve as a key component of the region’s integrated energy infrastructure that includes oil and gas production; LNG import facilities; gas processing plants, refineries and petrochemical plants; and pipelines that deliver the products to customers
- Enhance the functionality of much of the area’s existing infrastructure and the $15 billion in investment slated over the next five years.
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