In today's competitive world, energy fuels a region's economic well-being. Even as the world moves toward greater reliance on wind, solar and other renewable energy sources to fill energy demands, natural gas, the cleanest fossil fuel, will be called upon to fill the need for growing economies in the United States and around the world.Read More...
The U.S. seemed destined to become dependent upon imported liquefied natural gas (LNG) to fill the gap created by dwindling domestic natural gas production, however the North American natural gas supply has been turned on its head with the advent of new techniques that unlock natural gas held within shale. In a few short years the ability to economically tap this shale gas has resulted in gas production reaching new historical highs and seen recoverable gas reserves jump 10 fold to greater than 100 years of supply, and still growing. As domestic gas producers have become more efficient at applying these new techniques the cost of production has dropped to the point where the U.S. is now one of the lowest cost natural gas producers in the world.
The U.S. is now positioned to become a net exporter of natural gas. The Jordan Cove Energy Project is being developed as an export facility and is owned by Veresen, Inc., a Calgary based owner and operator of North American energy infrastructure assets.
When built, the Liquefaction Plant will be capable of receiving natural gas delivered to Coos Bay via its associated pipeline, the Pacific Connector Gas Pipeline. At Jordan Cove the natural gas will be cooled to a temperature of minus 260 degrees F whereupon it becomes a liquid (LNG). The LNG is then stored in two 160,000 cubic meter full-containment cryogenic tanks until specially-designed marine vessels are loaded to transport the LNG cargo to customers throughout the Pacific Basin.
Significant economic benefits will result from the construction of the $7.5 billion Jordan Cove Energy Project, including substantial increases in property tax revenues, the addition of up to 150 direct and contracted high paying permanent jobs, and investment in local energy and maritime infrastructure to support the operation of Jordan Cove and other potential new industry.
The Jordan Cove Energy Project continues to undergo a rigorous regulatory review process to ensure that the facility is designed and operated to meet stringent safety, security and environmental standards. Agencies involved in this review include the Federal Energy Regulatory Commission (FERC), the United States Coast Guard, the United States Army Corps of Engineers, the Oregon Department of Energy, the Oregon Department of Land Conservation and Development, the Oregon Department of Environmental Quality, the Oregon Department of State Lands and many other local, State and Federal agencies.