Magnum Energy

Investment Status: active

Sector: Storage

Investment Fund: Fund III

Geography: Utah

Initial Investment: Jan. 1, 2008

A multi-purpose energy hub

The Magnum Project is a multi-purpose integrated energy storage and power generation project that is being developed to serve natural gas liquids, refined products, natural gas, and power markets in the Western United States. Located in Millard County, north of Delta, Utah, the 2,150-acre site is strategically located at the crossroads of existing and developing electric, natural gas, and petroleum liquids infrastructure. 

The first project to enter the construction phase, a Natural Gas Liquids (NGL) storage project, was funded and broke ground in April, 2013 and was placed into service in April, 2014.  This initial project was sold to NGL Energy Partners for $280 million in February, 2015.  

The company is currently actively pursuing refined products and crude storage opportunities, a compressed air energy storage (CAES) project, as well as underground natural gas storage.   In 2011, the Company received a certificate of public convenience and necessity from the Federal Energy Regulatory Commission (FERC) under section 7(c) of the Natural Gas Act and Part 157 of FERC's regulations, authorizing construction and operation of natural gas storage caverns at the site.  

Additional information can be found on the company’s website at http://www.westernenergyhub.com.

 

The first phase of the Magnum project, located in central Utah, was placed into service in April 2014.