« BackNews: Veresen Resubmits Bigger LNG Export Terminal Project

Veresen Resubmits Bigger LNG Export Terminal Project

Canada’s Veresen has announced it has resubmitted its plans to apply for an LNG export terminal in Oregan after its 2016 proposal was derailed by US regulators.

The Calgary-based company said on September 21st that its Jordan Cove project is now expected to cost $10 billion (£7.4 billion) and will have a capacity of 7.8 million tonnes per year, up from six million.

Veresen has stated that a liquefied natural gas terminal in Coos Bay and a 370 km pipeline bringing natural gas originating in the US Rockies and British Columbia from a hub in Oregan to the terminal are included in the plans.

"Our significant efforts to optimise the design to minimise its environmental footprint and accommodate landowner requests, as well as the support of our world-class LNG buyers, should result in the receipt of the positive regulatory decisions required to build Jordan Cove,” said Vereseen CEO Don Althoff.

The chief executive said the new proposal submitted to the US Federal Energy Regulatory Commission has been altered in response to landowner complaints indicating the project’s impact on the environment outweighs its public benefits.

It was this prior ruling that led to the project being halted in 2016.

Veresen said all being well, the final investment decision will be made in 2019 and LNG will begin to be shipped from the site in 2024 providing the project is approved by the end of 2018.

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