NeuVentus Announces a Capacity Expansion at its Texas Reliability Underground (TRU) Hub Salt Cavern Storage Project Phase 1 in Liberty County, Texas

The expansion of the initial phase of the TRU project to include three natural gas storage caverns and a 35-mile header interconnecting with multiple LNG-serving pipelines meets needs of LNG, power and marketing customers and enables more competitive gas storage rates

AUSTIN, Texas & HOUSTON--(BUSINESS WIRE)--NeuVentus, LLC (“NeuVentus”), an Austin-based energy delivery infrastructure developer, announced today the expansion of the scope of the initial natural gas storage phase at its Texas Reliability Underground (“TRU”) salt cavern storage project located in Liberty County, Texas.

The initial phase under development will now include three natural gas caverns, raising the total working capacity of the initial phase from approximately 20 Bcf to 28 Bcf. Injection capacity is expected to increase proportionately from 600 mmcfd to 840 mmcfd. Withdrawal capacity is also expected to increase proportionately from 1,200 to 1,680 mmcfd. TRU’s initial phase also includes a large-diameter natural gas pipeline header spanning 35-miles north-to-south with 10 interconnections to vital inter- and intrastate natural gas pipeline arteries. (See the map of the TRU Hub storage facility, proposed natural gas pipeline header and description of the potential pipeline interconnections here.)

“Post-shale, the USA’s natural gas market overall has nearly doubled, natural gas pipeline capacity has grown by 50%, but natural gas storage capacity has grown by less than 10%,” said Sam Porter, CEO of NeuVentus. “The need for more gas storage is compounded because even as the overall gas market expands, the newest sources of natural gas demand—LNG and peakers in particular—are prone to creating very large spikes and cliffs in the overall load profile. The need for more high-turn flexible storage is particularly acute along the Texas Gulf Coast, where sources of new gas supply and new gas demand are rushing to come online. Salt caverns are unique among the large-volume gas storage technologies in their ability to provide the needed scale and flexibility, and NeuVentus is pleased that TRU is capable of meeting the challenge with this scope expansion.”

“Expanding TRU's first phase is a direct response and a clear statement of our conviction in this market and the TRU platform,” said Guy Ross, SVP of Natural Gas Development at NeuVentus. “More capacity gives TRU the scale to deliver maximum value: custom-tailored storage solutions and exceptional connectivity, at highly competitive rates.”

About NeuVentus

NeuVentus is a privately-owned, developer-owner-operator of pipeline transportation and storage projects. NeuVentus is a wholly owned subsidiary of funds managed by Lotus Infrastructure Partners. For more information, please visit www.neuventus.com.