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NYSE: GAS $41.62 +0.03
Feb 3 2012 3:46PM ET
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Project Information |
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Economic Benefits |
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Economic Benefits
Golden Triangle Storage has helped and will continue to help the local economy. The facility provides both construction and permanent jobs. GTS created approximately 136 construction jobs and added 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 into the future.
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
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