The Southern California Gas Company is one of the biggest local distribution companies in the United States, covering much of Southern California, and is a regulated utility within Sempra Energy. One of the wells at its Aliso Canyon storage site has been leaking gas for over three months now, and it’s not expected to be stopped for another month.
We’re not here to comment on the politics or social impact of this event, but we are tracking how this is impacting the California natural gas market. This has really shaken up expectations for the California gas market, as the future of the facility after the leak is repaired is unknown. So why is Aliso Canyon such an important storage facility?