The State Oil and Gas Board of Alabama, is a regulatory agency that promotes conservation and protection of the environment. The board enforces the state rules and regulations through oversight of oil and gas exploration, drilling, operation, and production, Class II injection wells, and Underground Storage of Gas in Reservoirs in Alabama.
The Oil and Gas Board of Alabama Administrative Code 400-1-1-.01 thru 400-7-1-.23 defines the regulations process for oil and gas permits. The following is required for the underground storage of gas in reservoirs or tanks permit for the purpose of commencement of “operation of any underground storage facility for solution-mined cavity and storage well (400-6-3-.01).
The premium that you pay for an Alabama Underground Storage of Gas in Reservoirs Surety Bond is dependent on credit, personal and business financial statements. Our rates start at 1% of the bond amount with good credit. Contact our Surety Bond Specialists for a free quote.
Global underground gas storage is expected to increase by more than 200 billion cubic meters by 2030 from the current day storage of approximately 377 billion cubic meters.
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