Quantifying the Effects of Underground Natural Gas Storage on Nearby Residents

Michaela Jellicoe and Michael S. Delgado

Agricultural and Resource Economics Review, 2015, vol. 44, issue 2, 59-82

Abstract: We estimate the potential negative effects of underground natural gas storage on local residents using hedonic regression and a sample of Indiana properties transacted between 2004 and 2013. We find that underground natural gas storage activities significantly reduce property values. Property values increase by about 10 percent at a distance of 1 kilometer from a storage field. Each additional storage well and observation well located near a property reduces the property's value by about 0.43 percent and 2.64 percent, respectively. Our research sheds new light on a previously unexplored aspect of natural gas resource activities.

Date: 2015
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