CHARLOTTE, N.C., May 3, 2012 (GLOBE NEWSWIRE) -- NDR Energy Group LLC, an energy company that markets and distributes natural gas and propane, and a subsidiary of Universal Bioenergy Inc. (OTCMarkets:UBRG), announced it has signed a major agreement with the largest natural gas utility company in America to obtain gas facilities storage services for its growth and expansion. This agreement is expected to a be a landmark deal that will change the future landscape of the Company and is expected to create millions in higher sales and profits for the Company.
The gas utility supplies and delivers natural gas to over 20.9 million customers on the west coast, and owns and operates 134 billion cubic feet of underground gas storage. Its parent company is traded on the New York Stock Exchange and reported revenues of $10.0 billion in 2011.
Pursuant to the terms of the Master Core Secondary Market Services Agreement under the utilities Park, Loan and Wheel Program for natural gas storage facility services, NDR Energy Group will procure, supply and transport natural gas from the gas fields to the storage facilities on the west coast. NDR Energy will sell the natural gas to its 28 utility customers, engage in gas futures contracts, spot market sales, physical gas trading, financial gas trading; including hedging, the use of natural gas derivatives and other financial instruments to generate greater revenues and profits.
Natural gas storage plays a very important role in ensuring the reliability of the gas supply to meet the seasonal demands, meet un-expected supply disruptions, and to meet base and peak load requirements in the marketplace. Natural gas is primarily stored underground in large depleted gas reservoirs, aquifers, and salt caverns. Natural gas storage facilities are used by exploration companies, producers and local distribution companies to store natural gas when prices are low, and later withdrawing the gas to sell it when prices are higher.
NDR Energy's President Ken Harris says, "I am extremely excited to announce our Market Services agreement with the largest utility in the U.S. In these challenging times in the natural gas industry, it is very critical for our company to diversify our income streams and position our company for growth as a multi-faceted energy company. This deal allows us to buy, store and sell natural gas in larger quantities, while taking advantage of the fluidity of natural gas prices. We are very bullish about the future of natural gas and are starting to see the beginning of strong and steady growth in natural gas futures. This dynamic bodes well for any energy company that can buy and store gas now, and sell at higher prices in the future. This is a major step for our company. It will give us a major competitive advantage in the industry and give us the exact fuel we need to propel us to a dominant position in the industry."
About NDR Energy Group LLC
Founded in 2005, NDR Energy Group, headquartered in Charlotte, N.C., is an energy company that markets and distributes natural gas and propane (HD-5), to major electric utilities and municipalities throughout the U.S. NDR provides energy management services to assist its clients in finding efficient and economic solutions. We also can provide other energy products such as refined petroleum products, energy efficient lighting systems and sustainable, alternative and renewable energy solutions to reduce our client's energy costs. For more information visit www.ndrenergy.com.
Safe Harbor Statement - There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Universal Bioenergy Inc.'s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.