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Storage
In oil: typically onland tankage facilities for short- or long-term storage of crude or products; sometimes used in economic parlance interchangeably with the concept of oil stocks.
In natural gas: facilities used to store natural gas which has been transferred from its original location. Usually consists of natural geological reservoirs like depleted oil or gas fields, water-bearing sands sealed on top by an impermeable cap rock, underground salt domes, bedded salt formations, or in rate cases, abandoned mines.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Energy
- Category: Energy trade
- Company: Platts
- Product:
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