Alberta operates over a hundred salt caverns for variety of purposes, NatGas, level-loading, NGLs, refinery feed/storage, strategic reserves, certain regulated waste streams.... They are nothing new. Some of those were repurposed from the same era & companies or their peers you mentioned. Google tells me there are only 36 in USA. I thought there were more. They represent 7% of total gas capacity over other alternatives, likely due to cost. I don't know Ontario's history but I'm guessing it was the better option among fewer alternatives. The latest rage consideration is for hydrogen storage. The issue these days for new caverns is not access to salt formations, at least not here. We have extensive formations. The issue is water use regulations (as it should be) which drives economics. In the bad old days, fresh water was diverted because it has the highest capacity for solubility. Now I think brackish is mandated & even so, licensed/regulated. Which means source wells, aquifer studies & you still have transport & permanently dispose the wash brine into acceptable formations (more drilling, more pipe, more infrastructure).The summer is spent pumping in gas at the maximum pipe capacity and then pumping the gas into huge storage caverns in SW Ontario. Those caverns were originally excavated salt domes from the Windsor salt company and others.
A pretty sweet solution to reusing old mine sites created by solution mining...
Operating depleted/spent caverns at least for 'pressurized' purposes is not without risk either. Drilling, completion & monitoring practices have come a long way since when Grandpa drilled the legacy wash & brine production wells. If the casing rotted off, oh well. Its a subsurface liquid tank, no chickens harmed. Now inject compressible hydrocarbon at very high pressures into that tank volume. One wants to very certain about how those prior penetrations were abandoned & that integrity is maintained. And we haven't got to Mother Nature's cruel jokes yet. Another day LOL
PHMSA: Stakeholder Communications - Underground Storage Fact Sheet
Office of Pipeline Safety Communications
primis.phmsa.dot.gov
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