Veresen seeks new U.S. regulatory hearing on request for Jordan Cove LNG project

CALGARY – Veresen Inc. (TSX:VSN) is making another attempt to get U.S. regulatory approval for the Jordan Cove liquefied natural gas project.

The Calgary-based company confirms that it has asked the U.S. Federal Energy Regulatory Commission to reconsider its opposition to the terminal and an associated pipeline to Oregon’s coast at the port of Coos Bay.

The U.S. energy regulator rejected the application on March 11, in part because Veresen didn’t have signed sales contracts.

In the following weeks, Veresen has signed preliminary deals that would account for half the Jordan Cove terminal’s output.

On Friday, Veresen announced a preliminary 20-year agreement with Japanese commodities trader Itochu Corp. for 1.5 million tonnes per year of LNG.

It has a similar deal with JERA, a joint venture between Tokyo Electric Power Company and Chubu Electric Power Co.

Veresen confirmed Monday that it had filed a request for FERC to rehear the submission. FERC has 30 days to grant or deny the request for rehearing.