Plains All American to Form New MLP
for  Natural Gas Storage Business

Plains All American Pipeline, L.P. (NYSE:PAA) announced on January 15, 2010 its intent to pursue an initial public offering of common units representing limited partner interests of PAA Natural Gas Storage, L.P. ("PNGS"), a master limited partnership (MLP) subsidiary to be formed by PAA to own and operate its natural gas storage assets and business.   On January 25, 2010 PAA announced that the newly formed PNGS had filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission ("SEC") relating to the proposed IPO (to see the S-1, click here).   Application will be made to list the common units of PNGS on the New York Stock Exchange under the symbol "PNG."

PAA formed PNGS to own, operate and grow the natural gas storage business that PAA acquired in 2005 and has continuously operated since that time.  PAA will own the 2% general partner interest and incentive distribution rights of PNGS and expects to retain a substantial portion of the MLP's common and subordinated units. PAA anticipates using the proceeds of the IPOof PNGS to repay debt and for general partnership purposes.

For further information, contact:

Roy I. Lamoreaux
Director, Investor Relations

Plains All American Pipeline, L.P.