(a) The commission has jurisdiction over:
(1) natural gas underground storage; and
(2) surface and subsurface equipment and facilities used for natural gas underground storage.
(b) This subchapter does not apply to a storage facility that is:
(1) part of an interstate gas pipeline facility as defined by the United States Department of Transportation; and
(2) subject to federal minimum standards adopted under 49 U.S.C. Section 60101 et seq. and its subsequent amendments or a succeeding law.