Veresen plans to spend $30 mil on Jordan Cove LNG in 2017

Calgary-based Veresen will continue to advance its Jordan Cove LNG export terminal and associated pipeline in Oregon and plans to spend about US$30 million next year on the development.

“The focus will remain on securing additional agreements for the long-term sale of natural gas liquefaction capacity at the export terminal as well as obtaining the requisite regulatory permits for both the terminal and the pipeline,” Veresen said in a statement announcing its business plans for 2017.

The project development budget will continue to be reviewed by Veresen’s board throughout the year to “ensure that project development spend is tied to progress on commercial and regulatory milestones.”

The U.S. FERC has earlier this year denied a permit to two Veresen units to construct, own and operate the LNG facility and an associated 232-mile pipeline.

Jordan Cove Energy Project and Pacific Connector Gas Pipeline have both filed a request for rehearing on the permit in April.

The duo requested from FERC in November to expedite its decision on rehearing of the order as it “has been pending for over six months now,” the two companies said then.

The proposed liquefaction project is expected to have an initial design liquefaction capacity of 6 million tons per annum or approximately 1 billion cubic feet of natural gas per day.

LNG World News Staff