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UPDATE 1-TransCanada says U.S. lets it reclassify 1.1 bcf of natgas in storage

Published 2015-09-01, 06:48 p/m
© Reuters. UPDATE 1-TransCanada says U.S. lets it reclassify 1.1 bcf of natgas in storage
NG
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TRP
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(Adds details of reclassification and sale of gas to customers)
Sept 1 (Reuters) - Natural gas pipeline operator TransCanada
Corp TRP.TO said on Tuesday the U.S. Federal Energy Regulatory
Commission (FERC) has allowed it to reclassify some 1.1 billion
cubic feet (bcf) of gas in storage as "working gas" which can be
burned at any time for heating or electrical generation.
Previously, the gas was classified as "base gas" supply,
which must be left underground to maintain a certain level of
operational pressure in a gas cavern.
The reclassified gas was part of a 9 bcf supply that
TransCanada wanted to sell from its underground storage on the
ANR Pipeline at Winfield and Loreed to realign its storage
capacity.
Transcanada said FERC approved the realignment plan last
November. At that time, 1.1 bcf of that was deemed base gas and
the balance 7.9 bcf working gas.
FERC has since "approved reclassification of all the gas to
working gas", TransCanada said in an email to Reuters on
Tuesday.
TransCanada said it reached agreement last week with
customers to sell all of the gas, the last of which will be sold
in January.

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