Veresen Applies for Long-Term Export License for the Jordan Cove LNG Project

abarrelfullabarrelfull wrote on 12 Sep 2013 11:34
Tags: lng n-america usa veresen


Veresen Inc. ("Veresen" or the "Company") (TSX: VSN) announced today that it has filed an application with the National Energy Board ("NEB") for a long-term license to export natural gas from Canada to the United States. The exported natural gas will supply Veresen's proposed Jordan Cove liquefied natural gas ("LNG") export project located in Coos Bay, Oregon.

"Our NEB export license application is a key regulatory milestone in the development of our Jordan Cove LNG project," said Don Althoff, President and Chief Executive Officer. "By providing western Canadian producers with access to large new markets, primarily utilizing existing natural gas infrastructure, our LNG project is well-positioned to create long-term value for the energy industry. In addition, customers of Jordan Cove will benefit from our tolling model and maintain optionality to source natural gas from both western Canada and the U.S. Rockies."

The NEB application requests an export volume of 1.55 billion cubic feet per day (Bcf/d) for 25 years, translating into 9 million tonnes per year (MMt/y) of export capacity from the Jordan Cove terminal. While the initial liquefaction design capacity is 6 MMt/y, an expansion to 9 MMt/y is possible.

To reach the Jordan Cove facility, western Canadian natural gas will travel via existing pipeline and gas gathering networks to the Malin trading hub located in southern Oregon. From Malin, the proposed Pacific Connector Gas Pipeline ("Pacific Connector") will transport natural gas to the Jordan Cove liquefaction terminal. The Pacific Connector is a 232-mile, 36-inch proposed pipeline owned equally by Veresen and The Williams Companies, Inc.


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