WARRENTON, Ore.--(BUSINESS WIRE)--Oregon LNG, a subsidiary of Leucadia National Corporation, announced today that the Federal Energy Regulatory Commission (FERC) has issued its Notice of Schedule for Environmental Review of Oregon LNG’s Warrenton, Oregon bi-directional terminal. The Notice also covers the Oregon Pipeline connector project and the upgrade of a portion of the Williams Company pipeline in Washington State.
The Notice set February 12, 2016 as the date of issuance of the Final Environmental Impact Statement, and May 12, 2016 as the 90-day Federal Authorization Decision Deadline. These dates represent the final steps in the FERC approval process.
Project Description
Oregon LNG’s terminal in Oregon would be a $6.3 billion construction project that would provide 3,000 jobs during construction, and 150 permanent family-wage jobs when operational. Oregon LNG has agreed to use unionized labor for construction, while preserving a certain percentage of contracts for local and minority-owned businesses. Once in service, the facility will pay about $60 million annually in state property taxes, making it the largest property taxpayer in the State of Oregon.
The terminal site is adjacent to the federally-maintained Columbia River shipping channel, on an existing man-made peninsula that has long been reserved for use by heavy, marine-dependent industries. The project will require the shortest connecting pipeline of any LNG project on the West Coast and will enjoy transportation costs to markets in North Asia that are only about one-third of the transportation cost from projects located on the Gulf of Mexico. With electric power supplied mostly from hydroelectric and wind resources, it will also have one of the lowest carbon footprints of any proposed LNG project in North America. Oregon LNG is fully committed to meeting all applicable safety and environmental standards.
About Oregon LNG
Oregon LNG is committed to the safe, efficient, and environmentally responsible importation and exportation of natural gas in the form of liquefied natural gas. For more information about Oregon LNG, please visit www.oregonlng.com.
About Oregon Pipeline
Oregon Pipeline Company, LLC is an indirect wholly owned subsidiary of Leucadia National Corporation and is an affiliate of Oregon LNG. Oregon Pipeline, LLC is proposing the construction and operation of an 86.8-mile long pipeline, connecting the Oregon LNG terminal with the Northwest Pipeline in Woodland, Washington. For more information about Oregon Pipeline, please visit www.oregonpipelinecompany.com.
About Leucadia National Corporation
Leucadia National Corporation is a diversified holding company engaged through its consolidated subsidiaries in a variety of businesses, including investment banking and capital markets, beef processing, manufacturing, oil and gas exploration and production and asset management. The Company also owns equity interests in businesses that are accounted for under the equity method of accounting, including a diversified holding company, real estate, commercial mortgage banking and servicing, telecommunication services in Italy, automobile dealerships and development of a gold and silver mining project.
