Spindletop Phase One Adds 30.75 Bcf Storage, Connects to Kinder Morgan Pipelines
KMI•Golden Triangle Storage has approved the first phase of its Spindletop Expansion Project in Beaumont, Texas, adding two salt dome caverns and infrastructure to boost storage by 30.75 billion cubic feet. Phase one, financed via MUFG debt, will interconnect with Kinder Morgan’s Trident and Mustang pipelines.
1. FERC Approval and FID
Golden Triangle Storage secured a Federal Energy Regulatory Commission certificate for the Spindletop Expansion Project and reached a final investment decision for its initial phase in Beaumont, Texas.
2. Phase One Expansion Details
This phase will construct two new salt dome storage caverns, associated surface infrastructure, and interconnections to Kinder Morgan’s Trident and ARM’s Mustang pipelines, boosting capacity by roughly 30.75 bcf.
3. Financing and Customer Demand
The first phase is financed through a debt facility provided by MUFG, following an open season that was nearly six-times oversubscribed, reflecting strong customer commitments.
4. Full Buildout Outlook
On full buildout, which requires separate FIDs for two additional caverns, the project is projected to exceed 60 bcf of storage capacity with further expansions slated for completion in 2027.
