PAA Natural Gas Storage Announces Modification to Terms of Its Series B Subordinated Units

HOUSTON--(BUSINESS WIRE)--PAA Natural Gas Storage, L.P. (NYSE: PNG) today announced a modification to the terms of certain of its Series B Subordinated Units, all of which are owned by Plains All American Pipeline, L.P. (NYSE: PAA) . PNG’s Series B Subordinated Units do not participate in quarterly distributions. Instead, the Series B Subordinated Units convert into Series A Subordinated Units or Common Units in five distinct tranches upon the achievement of defined benchmarks tied to the amount