PAA Natural Gas Storage, L.P. (NYSE:
) today announced a quarterly cash distribution of $0.3575 per unit ($1.43 per unit on an annualized basis) on all of its outstanding common and Series A subordinated units. The distribution will be payable on November 14, 2012, to holders of record of such units at the close of business on November 2, 2012. This distribution is unchanged from the quarterly distribution paid in August 2012. Including the distribution payable in November, limited partner distributions paid in 2012 represent an increase of 2.7% over limited partner distributions paid in 2011.
PAA Natural Gas Storage is a publicly traded master limited partnership engaged in the development, acquisition, operation and commercial management of natural gas storage facilities. The Partnership currently owns and operates three natural gas storage facilities located in Louisiana, Mississippi and Michigan. The Partnership's general partner, as well as the majority of the Partnership's limited partner interests, is owned by Plains All American Pipeline, L.P. (NYSE: PAA). PNG is headquartered in Houston, TX.