Natural gas prices increase significantly during the winter months when consumer demand is greatest. The price and volatility for customers could be reduced if more natural gas was purchased when prices are lower and then stored for use during the heating season. This approach would also ensure there is enough gas to meet customer needs year-round.
Nova Scotia has regulations for the safe underground storage of hydrocarbons. These regulations outline the process for companies to seek licenses and approvals for their projects in the province, including the regulatory role of the Nova Scotia Utility and Review Board.
There is currently no underground natural gas storage in Nova Scotia.
Alton Natural Gas Storage LP has received environmental approvals from the province to develop a natural gas underground storage facility and pipeline. The project requires additional approvals before it can be constructed and operated. For more information on this project and its progress, click here.
On Jan. 20 2016, the Government of Nova Scotia announced approvals for several permits so the next phase of the Alton Gas underground natural gas storage facility project can proceed. Find out more here.