The Federal Energy Regulatory Commission announced Friday that the Coos Bay liquefied natural gas export terminal was not needed.
The Federal Energy Regulatory Commission denied applications from the Calgary-based energy company Veresen Inc. and its pipeline collaborator, the Williams Partners, to locate the Jordan Cove Energy Project in the Southern Oregon coastal town, as well as a feeder pipeline that would have stretched halfway across the state.
Regulators said they were required to balance the need for any project against any adverse impacts it would have on landowners or the environment. The need for Jordan Cove was based entirely on demand for natural gas from customers in Asia, and with those markets in upheaval, Jordan Cove’s backers have yet to demonstrate that the demand exists.
Regulators noted that Veresen and Williams had signed no formal contracts to sell the terminal and pipeline capacity, and had not even held a successful “open-season” process to demonstrate informal interest in the facility.
(READ MORE: Oregon Live)
Backers expected the terminal’s sanction after federal regulators approved the project’s environmental impacts in December, according to Portland Business Journal.
