One of the nation’s biggest propane suppliers has reported a third-quarter loss due to the seasonal nature of the propane business. Inergy Partners LP reported a loss of $35.5 million – or 32 cents a unit – and said propane sales remained about flat. The result compared with a profit of $12.4 million, or 26 […]
Inergy, LP, one of the country’s largest propane retailers, purchased an underground salt cavern facility near Seneca Lake outside Watkins Glen, NY, capable of holding approximately 2 billion cubic feet of liquid propane gas, MarketWatch reported. Salt caverns are ideal for storing propane because they’re huge and essentially impermeable. The acquisition originally faced opposition and […]
The National Propane Gas Association (NPGA) announced the election of new officers for 2011-2012 after its mid-year Board of Directors meeting, the Sacramento Bee reported yesterday. The NPGA is the national trade association of the propane industry, representing the country’s 3,200 propane retailers, producers, transporters, and wholesalers. The election was held during Propane Days, the […]
Inergy LP, the fourth largest propane dealer in the country, has announced plans to add a 20-mile, 20-inch diameter lateral pipeline in Texas, according to a recent press release from Industrial Info Resources. The new pipeline will transport up to 100 million standard cubic feet of gas per day to Copano Energy LLC’s Houston Central […]
Lines have been drawn in the sand surrounding a potential propane storage site near Seneca Lake in New York. On one side is a national propane retailer, which has plans to stash 2.1 million barrels of propane in pre-existing salt caverns. On the other is a group of citizens that has raised concerns about potential […]
So it turns out that Jim Cramer, the host of CNBC’s finance show “Mad Money,” is a propane man. Two weeks ago, the enthusiastic investor took a look at FerrellGas, the #2 propane dealer in the country, and liked what he saw. And yesterday, he sized up Inergy, the #4 dealer, and drew the same […]
A subsidiary of the major propane retailer Inergy is making moves to store the gas in salt caverns near the town of Reading in Central New York, the Finger Lakes Times reports this week. The plan faces a few regulatory hurdles, though may get a boost from locals reeling from high propane prices and supply […]