New York State Electric & Gas Corporation (NYSEG), an Iberdrola USA subsidiary, has reached an agreement with Inergy Midstream to sell its Seneca Lake assets, totalling $65 million (€45.54 million).

This deal, which forms part of the asset disposal scheme outlined in Iberdrola's Strategic Plan 2008–2010, is subject to regulatory authorisation as well as other pertinent approvals.

The Seneca Lake assets comprise a high-rotation saline natural gas storage facility with 1.45 bcf of capacity and two gas pipelines in New York State.

The Seneca Lake Storage site is located on the western shore of Seneca Lake, three miles north of Watkins Glen in New York State. It includes a compression station and a high-rotation salt cavern. The plant is hooked up to the Dominion transmission system in Big Flats by the West pipeline which is 20 miles long and 16 inches in diameter.

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