Canadian regulator OKs Veresen's LNG export facility

Feb. 21, 2014 at 5:37 AM
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CALGARY, Alberta, Feb. 21 (UPI) -- A Canadian regulator said it approved a 25-year license to export liquefied natural gas through the United States in Veresen Inc.'s Jordan Cove energy project.

The National Energy Board said the project will help Canadian producers reach overseas gas markets, a priority for the government of Prime Minister Stephen Harper.

The Jordan Cove project is to export a maximum 1.56 billion cubic feet per day through the United States for Veresen.

The NEB said the project includes use of existing pipelines that cross the Canadian border in British Columbia to Coos Bay, Ore.

Veresen Chief Executive Officer Don Althoff said the project is a milestone for the company's Jordan Cove LNG project.

"Our proposed LNG facility would provide western Canadian producers with access to large, new markets, primarily using existing natural gas infrastructure and our project is well-positioned to generate long-term benefits for the energy industry," he said in a statement Thursday.

Veresen said the project represents a $7.5 billion investment. No date was given for expected deliveries.

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