SE_SCEE_2018A 03/15/2018 10:52:38 AM Committee Summary

PUBLIC
STAFF SUMMARY OF MEETING
SELECT COMMITTEE COMMITTEE ON SENATE SELECT COMMITTEE ON ENERGY AND THE ENVIRONMENT

Date

03/15/2018

Attendance
Garcia	X
Guzman	E
Priola	X
Cooke	E
Scott	X

Time

10:52:38 AM to 12:11:19 PM

Place

SCR 352

This Meeting was called to order by

Scott

This Report was prepared by

David Beaujon

Hearing Items	Action Taken
hBriefing on the Jordan Cove Liquified Natural Gas Project and What It Means for Colorado - Bob Braddock, Senior Project Advisor for Jordan Cove LNG, LLC.	Committee Discussion Only

10:53:28 AM

The chair welcomed the committee and identified
the charge of the 2018 Senate Select Committee on Energy and the Environment.
He also discussed the format for committee meetings and introduced
the presenters for the Jordan Cove LNG presentation.

Briefing on the Jordan Cove Liquified Natural Gas Project and What It Means for Colorado - Bob Braddock, Senior Project Advisor for Jordan Cove LNG, LLC. - Committee Discussion Only

Attachment Tag

File Name

Attachment

180315 AttachA.pdf

10:54:37 AM

Robert Braddock, Senior Project Advisor,
Jordan Cove LNG LLC, explained that Pembina Pipeline Corporation is a Canadian
company that owns the Jordon Cove Liquified Natural Gas (LNG) project [Attachment
A]. He also identified pipelines and other facilities in the United
States that are owned or operated by Pembina. The Jordan Cove LNG
facility is located at Coos Bay Oregon. He explained how natural
gas is liquified and how this process enables it to be shipped to other
countries in specially built vessels.

11:03:22 AM

Mr. Braddock identified markets for Jordan
Cove's LNG and discussed the capacity of the Jordan Cove LNG facility.
He explained that Jordan Cove receives natural gas from pipelines
that carry gas from Wyoming and Canada. Eventually, the Wyoming pipeline
will be able to deliver natural gas from Colorado. He explained that
the Jordan Cove LLN project will cost over $9.8 billion to complete, including
related pipelines. The project is expected to generate annually $48
million from corporate taxes and $60 million in local property taxes.

11:15:58 AM

Mr. Braddock identified customers for Jordan
Cove LNG including two Japanese companies - JERA and ITOCHU -- that
will use the gas to generate electric power. He discussed the LNG
receiving terminal in Tokyo Bay and identified countries that also provide
LNG to Japan. He identified other LNG export terminals in the US
and explained how Jordan Cove LLN is able to provide a more reliable source
of LNG due to climate, cost of natural gas, and proximity to customers.

11:31:36 AM

Mr. Braddock discussed the permit process
for the Jordan Cove LNG project and estimated the timeline to complete
the project. He also discussed the potential benefits to Colorado
from the Jordan Cove LNG project including a long-term stable market for
the state's natural gas.

11:34:53 AM

Mr. Braddock responded to questions from the committee about the Jordan Cove LNG project.

11:46:42 AM

Shawn Bolton, Rio Blanco County Board of
County Commissioners, discussed natural gas resources in the Piceance Basin
and the potential benefits of the Jordon Cove LNG project will provide
to the county. He also discussed a trip he took to Coos Bay Oregon
and responded to questions from the committee about the risk of a shut
down of the oil and gas industry and other issues.

12:03:20 PM

Rose Pugliese, Mesa County Board of County
Commissioners, identified the potential benefits of the Jordon Cove
LNG project to Mesa County and other West Slope communities.

12:08:32 PM

Senator Scott discussed the use of severance tax revenue by local governments in Colorado and how these entities may benefit from the Jordan Cove LNG project.

12:11:19 PM

Committee Adjourned

Briefing on the Jordan Cove Liquified Natural Gas Project and What It Means for Colorado - Bob Braddock, Senior Project Advisor for Jordan Cove LNG, LLC. - Committee Discussion Only

Colorado General Assembly