FERC rejects Veresen’s proposal on Jordan Cove LNG project in Oregon

Veresen has received an order from the Federal Energy Regulatory Commission (FERC) denying the applications of Jordan Cove LNG and Pacific Connector Gas Pipeline (Pacific Connector) seeking authorization for the construction and operation of an LNG export terminal and natural gas pipeline, officials confirmed today.

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 CEO 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, according to Veresen representatives.

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 Co.