Independent energy and commodity group Mercuria has announced an undisclosed investment in US underground salt dome energy storage company Black Bayou Energy Hub LLC, the company revealed on Thursday.
Based in Lafayette, Louisiana, Black Bayou is the driving force behind a significant underground energy storage facility located in Cameron and Calcasieu Parishes in Louisiana, near the Texas border on the US Gulf Coast.
“This investment from Mercuria marks a substantial advancement in fortifying the resilience and adaptability of our energy infrastructure. This collaboration capitalizes on Mercuria's formidable financial resources and extensive expertise in commodity markets, synergizing with Black Bayou's strategic positioning and developmental prospects,” stated Boris Bystrov, Managing Director of Investments at Mercuria.
As per the announcement, Black Bayou's primary focus initially will be on FERC-regulated natural gas storage, with plans to expand into storage development for a diverse array of energy products in the future.
