CIRI increases its ownership in CINGSA

Alan Bailey

Petroleum News

Cook Inlet Region Inc. has increased its ownership interest in Cook Inlet Natural Gas Storage Alaska from 4.25 percent to 8.5 percent, the Alaska Native regional corporation announced on April 1. The majority owner of the gas storage facility is Semco Energy, owner of Enstar Natural Gas Co. and wholly owned subsidiary of AltaGas Ltd.

CINGSA, located to the south of the city of Kenai on the Kenai Peninsula, provides gas storage services for Southcentral Alaska electric and gas utilities, enabling the warehousing of gas when Cook Inlet gas production exceeds demand and making that stored gas available when gas demand peaks. The facility began operation in 2012.

“It’s been a good investment for us and for the region,” said Suzanne Settle, vice president, CIRI energy and infrastructure. “CIRI purchased a 4.25 percent interest before the facility was even constructed. It’s a vital resource for the region, both for heating and electricity. When the opportunity arose to double our percentage interest in CINGSA to 8.5 percent in January, we jumped.”

- ALAN BAILEY