Inergy L.P. (NRGY) said its subsidiary, Inergy Midstream LLC, closed the acquisition of US Salt, LLC. US Salt is an industry-leading solution mining and salt production company located in Schuyler County, New York, between Inergy's Stagecoach and Steuben County natural gas storage facilities.
The company said it initially estimates the acquisition would provide access to at least 10 Bcf of additional salt cavern storage capacity, which can be interconnected to its existing energy storage platform. Inergy intends to begin developing approximately 5 Bcf of available salt cavern capacity immediately and is expected to be operational in the fall of 2010.
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