PAA Natural Gas Storage, L.P. (NYSE: PNG) today announced a prorated cash distribution of $0.2114 per unit on all of its outstanding common and Series A subordinated units. The distribution will be payable on August 13, 2010, to holders of record of such units at the close of business on August 3, 2010. The distribution is the first declared by the partnership and corresponds to the minimum quarterly distribution of $0.3375 per unit, or $1.35 per unit on an annualized basis, prorated for the partial quarter following the closing of the partnership's initial public offering on May 5, 2010. PNG 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 two natural gas storage facilities located in Louisiana and Michigan, which together have an aggregate working gas storage capacity of approximately 50 BCF. 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). The Partnership is headquartered in Houston, TX.
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