MS SB2867

Amends Section 53-3-153 to establish that underground storage of natural gas, compressed air, and carbon dioxide for conservation, peak demand management, enhanced oil or gas recovery, and long-term carbon dioxide sequestration serves the public interest and welfare of Mississippi.

Amends Section 53-3-155 to authorize the State Oil and Gas Board to approve underground storage of natural gas, compressed air, and carbon dioxide in suitable underground reservoirs after notice and hearing.

Requires the Oil and Gas Board to find that the proposed storage formation is suitable and feasible, does not contaminate fresh water or other mineral deposits, will not endanger lives or property, and has majority consent from surface and underground rights holders.

Effective July 1, 2010.