Veresen Inc. T.VSN.DB.B

Veresen Comments on FERC's Issuance of a Tolling Order

[Beckysboss]

May 9, 2016

Veresen Comments on FERC's Issuance of a Tolling Order in Response to Jordan Cove LNG and Pacific Connector Rehearing Request

CALGARY, ALBERTA--(Marketwired - May 9, 2016) - Veresen Inc. ("Veresen") (TSX:VSN) has received notice from the Federal Energy Regulatory Commission ("FERC") that it has issued an Order Granting Rehearing for Further Consideration (the "Order") in response to the request for rehearing submitted on April 8, 2016, by Jordan Cove Energy Project, L.P. and Pacific Connector Gas Pipeline, LP.
The Order, often referred to as a tolling order, is granted by FERC for the limited purpose of noting that rehearing has been timely requested and allowing itself more time than the 30 day statutory period to consider the merits of such requests for rehearing. FERC will grant or deny the requests for rehearing in a future order.
For further information about the Jordan Cove LNG project, please visit www.jordancovelng.com.

[Olderguy]

This is just FERC kicking the can down the road. Niether positive or negative I suppose.

[righand2]

It is actually a good thing if FERC delays a bit, as VSN needs time to line up more customers for their LNG. The more customers they have, the more likely it is for FERC to give them the green light.