Veresen's application for LNG terminal rejected
Veresen's application for LNG terminal rejected
2016-03-11 19:51 ET - News Release
Mr. Don Althoff reports
VERESEN COMMENTS ON FERC DECISION
Veresen Inc. has received an order from the Federal Energy Regulatory Commission (FERC) denying the applications of Jordan Cove LNG and Pacific Connector Gas Pipeline, seeking authorization for the construction and operation of a liquefied natural gas (LNG) export terminal and natural gas pipeline. Specifically, the FERC stated that the public benefits of Pacific Connector do not outweigh the potential for adverse impacts on landowners and communities.
"Clearly, we are extremely surprised and disappointed by the FERC decision," said Don Althoff, president and chief executive officer of Veresen. "The FERC appears to be concerned that we have not yet demonstrated sufficient commercial support for the projects. We will continue to advance negotiations with customers to address this concern."
Jordan Cove LNG and Pacific Connector will file a request for a rehearing of the decision.
Jordan Cove LNG is a wholly owned subsidiary of Veresen. Pacific Connector Gas Pipeline is owned equally by a subsidiary of Veresen and a subsidiary of the Williams Companies Inc.