MS HB1264

Requires the State Oil and Gas Board to make specific findings and issue a permit before allowing the creation of underground storage spaces for gases in reservoirs dissolved in salt beds

Extends existing permit requirements for natural gas and compressed air storage to also cover gases stored in salt bed reservoirs, including butane, propane, and their mixtures

Mandates that before approving storage, the Board must find the underground formation is suitable, feasible, in the public interest, and not an oil reservoir capable of commercial production

Requires written consent from a majority of surface rights holders and a majority of interests in the underground formation before storage can be approved

Board must also determine that storage will not contaminate formations containing fresh water, oil, gas, or other minerals, and will not endanger lives or property