Salt Caverns play an important role in the energy industry. They can be used to store propane, butane, natural gas, or petroleum. In fact, the Strategic Petroleum Reserve of the United States of America is stored primarily within subterranean salt caverns. Salt caverns also provide a very secure environment in which to store gases and fuels. According to the National Gas Supply Association, salt caverns have the “structural strength of steel” and allow very minor amounts of gas or fuel to escape.
With regard to natural gas, salt caverns, although smaller than some other types of underground storage, are ideally suited to meet demand fluctuations during peak usage time or wintertime. Natural gas can be more quickly withdrawn from and replenished in salt caverns than in other forms of storage.
Natural gas has seen a steady increase in demand and cost and will most likely continue to do so for the foreseeable future. According to the Energy Information Administration’s Annual Energy Outlook, natural gas demand in the United States will continue to increase at a steady rate of 1.4 percent annually. Therefore, NZ Legacy is well positioned to capitalize upon this trend as energy firms look for additional storage areas for this precious resource.
NZ Legacy land holdings contain a 650-foot thick salt layer that is 1,000 feet below ground level.
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