What Caliche Development Partners does

Caliche Development Partners is a Houston-based, private equity-backed underground storage infrastructure company that acquires, develops, and operates subsurface hydrocarbon and industrial gas storage assets. Founded in 2016, the company operates two primary facilities: Golden Triangle Storage (GTS), a FERC-regulated interstate natural gas storage facility on the historic Spindletop salt dome in Beaumont, Texas, and Central Valley Gas Storage (CVGS), a depleted reservoir facility in Colusa County, California. GTS is connected to seven major interstate and intrastate pipelines via a 20-mile dual 24-inch header and is the only gas storage facility with direct connections to more than one LNG export terminal. Operational capacity today is approximately 25 Bcf of natural gas working storage (14 Bcf at GTS, 11 Bcf at CVGS) plus the world's largest helium storage cavern (over 3 Bcf / 4 million barrels) operated under a long-term contract with Linde.

The company's core technology is subsurface storage in solution-mined salt caverns and depleted sandstone reservoirs, with specialized expertise in storing small, valuable molecules such as helium and hydrogen that require specialized containment. Revenue is generated primarily through long-term (5-20 year) Firm Storage Service (FSS) agreements under FERC-regulated tariffs, allocated via formal open season bidding processes, supplemented by helium storage contracts and (pending Class VI permitting) per-tonne CO2 sequestration fees. Customers span natural gas utilities, LNG exporters, industrial gas companies (Linde, Air Products historically), and petrochemical producers, served through direct enterprise sales led by the CEO, CCO, and VP Trading & Origination.

Caliche is majority-owned by Sixth Street (a global investment firm with over $130 billion in AUM that closed its majority investment in 2024-2025); prior sponsors include Orion Infrastructure Capital, GCM Grosvenor, and Energy Spectrum Capital. Major milestones include the $186 million acquisition of GTS and CVGS from Southern Company in 2022-2023 (financed by a $268 million OIC/GCM Grosvenor commitment), commissioning of the world's largest helium cavern for Linde in July 2025, FERC approval of the 30 Bcf Spindletop Expansion Project in March 2026, and a $280 million helium cavern construction program. The company is concurrently executing a multi-phase expansion that scales GTS to 60+ Bcf at full buildout, advancing a 30 million tonne CO2 sequestration project on 4,000 leased acres in Jefferson County, TX, and exploring hydrogen storage and additional pipeline interconnects (Momentum Clarity, Kinder Morgan Trident, ARM Mustang Express, ExxonMobil Beaumont).

Name

Caliche Development Partners

Legal name

Caliche Development Partners, LLC

Website

https://calichestorage.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Caliche Development Partners is a private, Houston-based underground storage infrastructure company that develops and operates salt cavern and depleted reservoir storage for natural gas, helium, and CO2 sequestration at its FERC-regulated Golden Triangle Storage facility in Beaumont, TX and Central Valley Gas Storage in California, serving industrial gas companies, LNG exporters, utilities, and petrochemical producers.

Ownership category

akta.pro rank

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Natural Gas Storage Services: Caliche provides firm storage service (FSS) under FERC-regulated Rate Schedule FSS at its Golden Triangle Storage and Central Valley Gas Storage facilities. Revenue is earned through long-term capacity reservations charged to customers. Storage caverns are contracted via open seasons with terms typically 5-20 years. Injection and withdrawal fees apply per agreed rates.
2. Helium Storage Services: Long-term helium storage service agreements with industrial gas companies (Linde). Caliche developed and operates the world's largest helium salt cavern (>3 billion cubic feet) at GTS under a long-term contract. Helium is stored as a small, valuable molecule requiring specialized salt cavern containment.
3. Carbon Sequestration Services: Caliche is developing CO2 sequestration capacity targeting mid-sized industrial emitters (500,000 to 1.5 million tonnes CO2 per year) in the Golden Triangle region. Revenue will come from fees charged per tonne of CO2 permanently sequestered underground, once Class VI permits are approved and operations commence.
4. Industrial Gas and NGL Storage Services: Caliche previously provided ethylene storage (600 million pounds, 600,000 lbs/hour deliverability) and other NGL storage at its Coastal Caverns facility. The company also developed and operated North America's first helium storage salt cavern and a hydrogen cavern at Coastal Caverns before selling that business to Energy Transfer in March 2022.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels8 records

Core offering

Caliche Development Partners acquires, develops, and operates subsurface hydrocarbon storage assets and associated pipelines, providing underground natural gas, helium, hydrogen, and (planned) carbon sequestration storage services through two primary facilities — Golden Triangle Storage (GTS) in Beaumont, TX and Central Valley Gas Storage (CVGS) in Princeton, CA. Revenue is earned primarily through long-term FERC-regulated Firm Storage Service (FSS) agreements (typically 5–20 years) and other storage service contracts with industrial gas companies, LNG exporters, utilities, and petrochemical producers.

Product overview

Caliche Development Partners operates as an underground storage infrastructure company offering multiple distinct storage services through its two primary asset locations. Its core portfolio consists of Golden Triangle Storage (GTS) in Beaumont, Texas — a FERC-regulated, interstate underground natural gas storage facility on the Spindletop salt dome — and Central Valley Gas Storage (CVGS) in Princeton, California, a depleted reservoir facility. These core assets are augmented by expansion modules: the GTS Expansion Project (adding two natural gas caverns, ~14.4 Bcf) and the Spindletop Expansion Project (adding four more caverns, ~30.75 Bcf). GTS also hosts the world's largest helium storage cavern under a long-term Linde contract, and a CO2 sequestration project at the Beaumont Sequestration site is in EPA Class VI permitting. Previously, Caliche developed and sold Caliche Coastal (NGL/ethylene/helium storage) to Energy Transfer. The company does not operate as a software product company; it is a physical infrastructure operator providing storage-as-a-service for natural gas, industrial gases (hydrogen, helium), and carbon sequestration.

Differentiator

Problem solved

Functional benefit

Products and services

• Golden Triangle Storage (GTS) FERC-regulated, interstate underground natural gas storage facility on the historic Spindletop salt dome in Beaumont, TX (Jefferson County). GTS provides firm natural gas storage service under Rate Schedule FSS, interconnected with seven major pipelines (TETCO, FGT, HPL, KM Texas, Golden Pass Pipeline, Natgasoline, DCP) via a 20-mile dual 24-inch header. Planned full buildout: 60+ Bcf capacity across eight caverns with up to 2.2 Bcf/day injection and 2.5 Bcf/day withdrawal, intended to be the largest natural gas storage hub on the Gulf Coast. Serves LNG exporters, utilities, gas marketers, and industrial customers.
• Central Valley Gas Storage (CVGS) Depleted reservoir natural gas storage facility located in Princeton, California (Colusa County), interconnected with Pacific Gas and Electric (PG&E) at Citygate. Provides 11 Bcf of working gas capacity with maximum injection of 300 MMcf/d, using three Caterpillar-Ariel compressors totaling 10,650 HP. Serves Northern California heating, power, and industrial loads under multi-year firm storage service agreements.
• Helium Storage Services (Linde Contract) Underground salt cavern helium storage at the Golden Triangle Storage complex in Beaumont, TX. The world's largest helium storage cavern (over 3 billion cubic feet), operated under a long-term storage services agreement with Linde, supports critical end-user industries including aerospace, electronics, healthcare, and semiconductor manufacturing. Caliche also previously developed and operated North America's first helium salt storage cavern (now part of Coastal Caverns, sold to Energy Transfer in March 2022) under a prior long-term contract with Air Products.
• Caliche CO2 Sequestration (Beaumont Sequestration Project) Geologic carbon sequestration service being developed on 4,000 contiguous leased acres in Jefferson County, TX (approximately four miles west of GTS). Targets permanent injection of CO2 into the porous and permeable Frio Sandstone formation. Initial project targets injection of 2 million tonnes of CO2 per year for 12 years (~24 million tonnes project life per May 2024 update), with site estimated to hold at least 30 million tonnes overall. Targets mid-sized industrial emitters (500,000 to 1.5 million tonnes CO2/year) in the Golden Triangle region, including steam methane reformer operators, refineries, and petrochemical facilities. Currently in EPA Class VI permitting process with GSI Environmental assisting.

Quantifiable outcome

• 60+ Bcf total natural gas storage capacity at GTS full buildout — largest natural gas storage hub on the Gulf Coast
• +5 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered emerging, core and historical.

• Momentum (Clarity Pipeline)emergingStrategic or Co-development Partner · 23 March 2026Momentum Midstream's Clarity Pipeline interconnect with GTS. Construction began on the connection, expected to enter service later in 2026. This interconnect will provide GTS customers access to Permian Basin gas supply through Momentum's pipeline system.
• ExxonMobil (Beaumont Refinery Connection)emergingStrategic or Co-development Partner · 23 March 2026ExxonMobil's Beaumont Refinery pipeline connection to GTS. Construction began on the interconnect, expected to enter service later in 2026. Provides direct access to ExxonMobil's Beaumont refinery operations and associated pipeline infrastructure.
• Kinder Morgan (Trident Intrastate Pipeline)emergingStrategic or Co-development Partner · 23 March 2026Kinder Morgan's Trident Intrastate Pipeline connection to GTS, scheduled for connection in early 2027. This interconnect will expand GTS's access to intrastate gas supply sources.
• ARM Energy (Mustang Express Pipeline)emergingStrategic or Co-development Partner · 23 March 2026ARM Energy's Mustang Express Pipeline connection to GTS, scheduled for connection in late 2028. This interconnect will support the Spindletop Expansion Project's expanded capacity.
• Linde (Blue Hydrogen Pipeline Interconnection)emergingStrategic or Co-development Partner · 23 March 2026Caliche is expanding its commodity partnership with Linde beyond helium storage to include natural gas delivery through a new pipeline interconnection with Linde's blue hydrogen plant in Beaumont. This represents an expansion of the existing helium storage relationship into natural gas and hydrogen services.
• GSI Environmental Inc.coreImplementation/ SI/ Consulting Partner · 24 May 2024GSI Environmental Inc. is overseeing the Class VI permitting process for Caliche's CO2 sequestration project. GSI is an engineering and environmental science consulting firm specializing in Class VI injection well projects, including permit applications and development of environmental monitoring programs. GSI previously worked on the Class VI application submission and assisted with submitting plans to the Texas Railroad Commission.
• Southern CompanyhistoricalOthers · 29 November 2022Caliche acquired Golden Triangle Storage (GTS) and Central Valley Gas Storage (CVGS) from affiliates of Southern Company (NYSE: SO). The GTS transaction closed November 18, 2022; CVGS closed October 3, 2023 following regulatory approvals. The combined acquisition price was approximately $186 million.
• City of BeaumontcoreOthers · 29 November 2022Caliche Development Partners II reached an agreement with the City of Beaumont to lease subsurface zones under 4,000 contiguous acres for long-term CO2 sequestration in Jefferson County, TX. The leased area is within 15 miles of one-third of the region's industrial point-source emissions. The city also provides tax incentives and industrial development agreements supporting GTS expansion and the helium cavern project.

Scale indicators21 records

Recent moves12 records

Expansion highlights6 records

Direct peers

• Spire Storage: Spire operates salt cavern underground storage for natural gas and LNG through its Spire STL Pipeline and Storage subsidiary in the US Northeast. Directly comparable to Caliche on salt cavern geology and FERC-regulated interstate storage economics, serving similar large gas customers with similar FSS-style contracts.
• Energy Transfer: Energy Transfer acquired Caliche's former Coastal Caverns NGL/ethylene/helium storage business in March 2022 and operates adjacent salt cavern storage on the Spindletop dome. Directly comparable storage operator in the same Gulf Coast geology and overlapping customer set in NGL and natural gas.

Broad incumbents

• Kinder Morgan: Kinder Morgan operates extensive underground natural gas storage across multiple US regions and is one of Caliche's pipeline interconnection partners (Trident pipeline). Comparable as a major storage operator with broad geographic diversification, though Kinder Morgan's storage is only one segment of a much larger midstream portfolio.
• Enbridge: Enbridge operates underground gas storage assets in Ontario and the US Midwest as part of its broader natural gas utility and pipeline business. Comparable storage operations and FERC-style rate-regulated economics, but storage is a small portion of a diversified midstream and renewables platform.
• Southern Company Gas: Southern Company Gas sold GTS and CVGS to Caliche in 2022-2023 for ~$186M combined and continues to operate other gas storage assets. A former owner of Caliche's flagship assets and a continuing large-scale storage operator with comparable FERC-regulated economics but a much broader regulated utility footprint.
• Tallgrass Energy: Tallgrass Energy owns and operates natural gas storage and transportation assets in the Rockies and Mid-Continent through its Tallgrass Interstate Gas Transmission system. Comparable interstate storage economics and FERC-style rate base, but storage is one piece of a broader midstream platform.
• Sempra Infrastructure: Sempra Infrastructure develops and operates LNG export terminals and associated gas infrastructure on the Gulf Coast. Overlapping customer base with Caliche (LNG exporters) and direct adjacency to GTS's LNG interconnection advantage, but Sempra's scope is broader and includes liquefaction rather than just storage.
• Boardwalk Pipeline Partners: Boardwalk Pipelines operates interstate natural gas storage and pipeline assets across the Southeast and Gulf Coast, including depleted reservoir and salt cavern storage. Comparable FERC-regulated storage economics and Gulf Coast / Southeast exposure, though Boardwalk's portfolio is more pipeline-weighted than storage-weighted.

Emerging players

• WhiteWater Midstream: WhiteWater Midstream is a fast-growing midstream developer with multiple Gulf Coast pipeline and gas processing projects serving LNG export and Permian supply. Comparable emerging midstream growth story and overlapping Gulf Coast LNG-driven demand thesis, though storage is not WhiteWater's core focus.
• 1PointFive: 1PointFive (an Oxy subsidiary) is developing large-scale CO2 sequestration hubs, notably Stratos, and is among the leading Class VI permit applicants in the US. Comparable CCS thesis and Class VI permitting pathway to Caliche's Beaumont Sequestration Project, though 1PointFive is pursuing direct air capture plus sequestration at greater scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/caliche-development-partners
• Facebookfacebook.com/CalicheStorage

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries3 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Caliche Development Partners