Tenaska Capital Management says it has agreed to sell a natural gas storage facility in northeast Mississippi to a Houston-based subsidiary of Spanish power company Iberdrola SA.

    Financial terms were not released Monday.

    The Caledonia Gas Storage Field can store up to 11.7 billion cubic feet of working natural gas, but it may be expanded to hold as much as 16.9 billion cubic feet if federal regulators approve.

    Omaha-based Tenaska says the natural gas storage facility was owned by its Tenaska Power Fund investment subsidiary and some of the original sponsors of the Caledonia project.

    Enstor Inc. is the Iberdrola subsidiary buying the gas storage facility, which is fully subscribed for storage through March 2010.