Veresen Inc.
TSX : VSN

Veresen Inc.

May 09, 2016 13:33 ET

Veresen Comments on FERC's Issuance of a Tolling Order in Response to Jordan Cove LNG and Pacific Connector Rehearing Request

CALGARY, ALBERTA--(Marketwired - May 9, 2016) - Veresen Inc. ("Veresen") (TSX:VSN) has received notice from the Federal Energy Regulatory Commission ("FERC") that it has issued an Order Granting Rehearing for Further Consideration (the "Order") in response to the request for rehearing submitted on April 8, 2016, by Jordan Cove Energy Project, L.P. and Pacific Connector Gas Pipeline, LP.

The Order, often referred to as a tolling order, is granted by FERC for the limited purpose of noting that rehearing has been timely requested and allowing itself more time than the 30 day statutory period to consider the merits of such requests for rehearing. FERC will grant or deny the requests for rehearing in a future order.

For further information about the Jordan Cove LNG project, please visit www.jordancovelng.com.

About Veresen Inc.

Veresen is a publicly-traded dividend paying corporation based in Calgary, Alberta that owns and operates energy infrastructure assets across North America. Veresen is engaged in three principal businesses: a pipeline transportation business comprised of interests in the Alliance Pipeline, the Ruby Pipeline and the Alberta Ethane Gathering System; a midstream business which includes a partnership interest in Veresen Midstream Limited Partnership which owns assets in western Canada, and an ownership interest in Aux Sable, which owns a world-class natural gas liquids (NGL) extraction facility near Chicago, and other natural gas and NGL processing energy infrastructure; and a power business comprised of a portfolio of assets in Canada. Veresen is also working to advance Jordan Cove LNG, a six million tonne per annum natural gas liquefaction facility proposed to be constructed in Coos Bay, Oregon, and the associated Pacific Connector Gas Pipeline. In the normal course of business, Veresen regularly evaluates and pursues acquisition and development opportunities.

Veresen's Common Shares, Cumulative Redeemable Preferred Shares, Series A, Cumulative Redeemable Preferred Shares, Series C, and Cumulative Redeemable Preferred Shares, Series E trade on the Toronto Stock Exchange under the symbols "VSN", "VSN.PR.A", "VSN.PR.C" and "VSN.PR.E", respectively. For further information, please visit www.vereseninc.com.

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