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The JISH header system currently has interconnections with eight pipelines including direct access to the Henry Hub via Sabine Pipeline.
JISH has begun its expansion plans for its third cavern, which is expected to be completed by 2009.
JISH previously solicited interest in the third cavern and based on customer interest from that solicitation is now also soliciting interest in its fourth cavern, which is scheduled to come online by 2011.
The drilling is the first phase of the expansion project estimated at a cost of up to $160 million, which, when complete, will add two natural gas salt dome storage caverns to the JISH facility.
Additional payments paid to Entergy Louisiana, the local utility powering JISH, estimated to be between $211,000 and $2.
Located near the Henry Hub at Erath, Louisiana in Vermillion and Iberia Parishes, JISH is a high-deliverability natural gas storage facility capable of multiple inventory cycles per year.
With direct access to the Henry Hub, JISH is strategically located to store and deliver Gulf Coast and emerging LNG (liquefied natural gas) supplies.
The expansion project calls for adding a third and fourth cavern to the two existing salt caverns at JISH.
AGL Resources added this new operating segment in accordance with the requirements of Statement of Financial Accounting Standards No 131, Disclosures about Segments of an Enterprise and Related Information, in order to provide more transparency and visibility into the results and operations of SouthStar, as well as the results and operations of those businesses comprising the Energy Investments segment, including JISH and Pivotal Propane of Virginia.
This $6 million improvement was driven by $4 million in EBIT contributions from the 2004 acquisition of JISH, as well as $1 million in EBIT contribution from Pivotal Propane of Virginia which became operational in April 2005.
We're opening the bidding process now for the capacity that will be available at JISH next year as a result of contracts expiring," said Dana Grams, senior vice president of Business Development at Pivotal, the AGL Resources' business unit responsible for managing the JISH assets.
The JISH header system has interconnections with eight pipelines including direct access to the Henry Hub via Sabine Pipeline.