(1) The underground storage of natural gas which promotes conservation thereof, which permits the building of reserves for orderly withdrawal in periods of peak demand, which makes more readily available and economical our natural gas resources to the domestic, commercial, and industrial consumers of this state, and which provides a better year-round market to the various gas fields, and promotes the public interest and welfare of this state.
(2) Therefore, in the manner hereinafter provided, the Oil and Gas Commission may find and determine that the underground storage of natural gas as hereinbefore defined is in the public interest.