Jordan Cove Energy Project L.P. (“Jordan Cove LNG”) announced today that the Federal Energy Regulatory Commission (“FERC”) in the United States has issued a final Environmental Impact Statement (“EIS”) for Jordan Cove LNG and Pacific Connector Gas Pipeline (“Pacific Connector”). Jordan Cove LNG and Pacific Connector formally filed applications with the FERC for approval to construct a liquefied natural gas (“LNG”) export terminal at Coos Bay, Oregon and a 232-mile natural gas pipeline from Malin, Oregon to the LNG terminal in May and June 2013, respectively.
Jordan Cove LNG is a wholly-owned subsidiary of Veresen Inc. (“Veresen”), and Pacific Connector is owned equally by a subsidiary of Veresen and a subsidiary of The Williams Companies (“Williams”).
“The final EIS is a significant regulatory milestone for Veresen,” said Don Althoff, President and CEO of Veresen. “We have worked closely with federal, state and local regulatory agencies and with local communities over the past three years, and I’m extremely proud of all the effort and due diligence undertaken to ensure that the terminal and pipeline are designed to meet or exceed all of the required environmental standards.”
“Receipt of our final EIS demonstrates our strong progress on the permitting front and paves the way for Jordan Cove LNG to be the first LNG export facility to be built on the west coast,” added Elizabeth Spomer, President and CEO of Jordan Cove LNG. “This regulatory milestone will be viewed as great news by our target customers.”
FERC’s Notice of Schedule, issued in June 2015, provides for the issuance of a final order and certificates for Jordan Cove LNG and Pacific Connector on or before December 29, 2015. Veresen expects to obtain a FERC "Notice to Proceed" in mid-2016, leading to a final investment decision thereafter.
Jordan Cove LNG will be among the largest commercial ventures in Oregon’s history, and will foster regional prosperity through job creation, community investment and other local benefits.
About Jordan Cove Energy Project L.P.
Jordan Cove Energy Project L.P. is a subsidiary of Veresen, a diversified energy infrastructure company that owns and operates assets across North America. The project consists of a natural gas liquefaction and export facility and an adjacent 420 MW power generation plant dedicated to the export facility.
About Pacific Connector Gas Pipeline L.P.
Pacific Connector Gas Pipeline LP is a limited partnership between Williams Partners Operating LLC and Jordan Cove LNG L.P. Pacific Connector is a proposed 232-mile, 36-inch diameter interstate natural gas transmission system designed to transport up to 1,030,000 dekatherms per day of natural gas to Jordan Cove’s LNG export terminal.
About Veresen Inc. (TSX: VSN)
Veresen is a publicly-traded dividend paying corporation based in Calgary, Alberta, that owns and operates energy infrastructure assets across North America. Veresen is engaged in three principal businesses: a pipeline transportation business comprised of interests in three pipeline systems, the Alliance pipeline, the Ruby Pipeline and the Alberta Ethane Gathering System; a midstream business which includes ownership interests in a world-class natural gas liquids extraction facility near Chicago, the Hythe/Steeprock complex, and other natural gas and NGL processing energy infrastructure; and a power business with a portfolio of assets in Canada and the United States. Veresen is also actively developing a number of greenfield projects, including the Jordan Cove LNG terminal, a six million tonne per annum natural gas liquefaction facility proposed to be constructed in Coos Bay, Oregon, and the Pacific Connector Gas Pipeline. In the normal course of its business, Veresen regularly evaluates and pursues acquisition and development opportunities.
About Williams (NYSE:WMB)
Williams, headquartered in Tulsa, Okla., is one of the leading energy infrastructure companies in North America. It owns controlling interests in both Williams Partners L.P. (NYSE:WPZ) and Access Midstream Partners, L.P. (NYSE:ACMP). Northwest Pipeline LLC, a wholly owned subsidiary of Williams Partners L.P., is a 3,900-mile gas transmission system crossing the states of Washington, Oregon, Idaho, Wyoming, Utah and Colorado. The bi-directional system provides access to British Columbia, Alberta, Rocky Mountain and San Juan Basin gas supplies.