Monday, February 8, 2010

Magnum Gas Storage aims to store energy in air

Magnum Gas Storage plans to dig a series of underground caverns that it hopes to one day fill with compressed air, releasing it to generate electricity by turning a turbine and solving one of the most vexing problems facing the clean-energy industry — how to store power. A private-equity group is bankrolling the project to hollow out a series of energy-storage vaults from a massive salt deposit a mile underground. It promises to make a perfect repository for storing energy and, in effect, creating a giant subterranean battery. Initially, Magnum Energy LLC will store natural gas for Rocky Mountain producers, taking it from a nearby interstate pipeline, in an "energy hub" near Delta, Utah. It hopes to start dissolving the first cavern within a year. The Deseret News