JERA wants Jordan Cove LNG, March 23

A Japanese company, JERA Co. Inc. has reportedly signed an agreement with the owners of the proposed Jordan Cove Energy Development project to purchase Liquefied Natural Gas from the export terminal on Coos Bay. The announcement follows the recent decision by the Federal Energy Regulatory Commission (FERC) to not allow the necessary federal permits for the facility on the North Spit. A part of the reason was the lack of a demonstrated need for the export facility and its LNG. However, Veresen Inc., which is behind the Jordan Cove project, says the contract calls for the exporting of at least 1.5 million tons of LNG annually. Veresen officials have talked about a capacity of 6 million tons per year. Veresen plans to appeal FERC’s decision.