| Morgan Stanley has quietly working on plans to build and manage one of the first compressed natural gas export facilities in the U.S. The move marks the bank's re-entry into the physical commodities business. It has a 23 page app filed with the Office of Fossil Energy at the Department of Energy. It's hoping to build operate a facility for compression and containment of nat gas in Texas. Its capacity could be up to 60 billion cubic feet of CNG annually.
This is Morgan Stanley's attempt to take advantage of its grandfather position as one of the only two Wall Street banks -- the other being Goldman Sachs -- to be permitted to own/operate manufacturing and storage infrastructure dedicated to raw materials...............................................Full Article: Source
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