Storage, the great balancing mechanism of the natural gas market in North America is heading toward another evolution in its usage, flow patterns and economics. Not too many years ago, natural gas storage was the hottest midstream investment opportunity going, expected to synchronize inbound flotillas of LNG imports with seasonal domestic demand. Winter vs. summer price differentials were wide, prices were volatile and storage economics looked great. When shale gas happened, those differentials evaporated along with storage economics. Today another phase looms for natural gas storage as Marcellus and now Utica production ramp up on top of (or more accurately, underneath) the largest storage region in the world – the Northeast U.S. This is a big topic with big implications. So rather than jumping into the middle of the upcoming gas storage transformation, we will walk through a multi-part North America natural gas storage blog series - its history and status, its challenges, who’s involved, and finally what could be in store going forward. Today we’ll start with some natural gas storage basics.