Veresen, the developer for the Jordan Cove liquefied natural gas export terminal in Coos Bay, says it has found a potential customer for the proposed terminal.
The announcement came 11 days after federal regulators denied a license for the massive project, saying its developers hadn’t demonstrated demand for the facility and its feeder pipeline. Regulators concluded there wasn’t sufficient public need for the project to overcome negative impacts on landowners.
Jordan Cove’s Canadian developer, Veresen Inc., has suggested it intends to appeal the decision by the Federal Energy Regulatory Commission. It has 30 days from the March 11 decision to do so. Its preliminary agreement with a consortium of Japanese utilities covered a quarter of the terminal’s capacity, and Veresen said talks with other potential customers are ongoing.
The company said in a news release that the agreement “signals strong market support for the Jordan Cove LNG project from the world’s largest LNG buyer and represents a significant step forward in the project’s development.”
(READ MORE: Oregon Live)