Veresen Provides Update on Commercial Activity for its Jordan Cove LNG Project

Veresen Provides Update on Commercial Activity for its Jordan Cove LNG Project 
CALGARY, Oct. 7, 2013 /CNW/ - Veresen Inc. ("Veresen" or the "Company") (TSX: 
VSN) provided today an update of commercial activity related to the Company's 
proposed Jordan Cove liquefied natural gas (LNG) export facility located in 
Coos Bay, Oregon, and for the Pacific Connector Gas Pipeline (Pacific 
Connector), which will transport natural gas supplies to the Jordan Cove LNG 
In what is expected to be a series of commercial transactions resulting from 
discussions with several prospective customers, Veresen is pleased to advise 
that its project level subsidiaries have executed initial customer expressions 
of interest by entering into non-binding arrangements, referred to as "Heads 
of Agreement" (HOA). The HOA sets out indicative commercial terms of the 
subsequent, binding, Liquefaction Tolling Services Agreement (LTSA) and 
Pipeline Service Agreement (PSA), which will be the subject of further 
negotiations between the parties. 
Independent HOAs were recently finalized with three, large-scale prospective 
customers with head office locations in Indonesia, India, and an Eastern Asia 
country. The volume of LNG capacity requested under each HOA either meets or 
exceeds a minimum 25% capacity threshold amount, under the initial six million 
metric tons per annum LNG development offering by Jordan Cove and Pacific 
Connector. The contract term under each agreement is proposed to be 25 years, 
with extension rights. 
"Signing these initial HOAs with prospective customers for liquefaction 
tolling services is an important commercial milestone in the development of 
our Jordan Cove LNG project," said Don Althoff, President and CEO of Veresen. 
"We've gained excellent traction in our commercial discussions and we continue 
to evaluate opportunities with several highly-respected prospective customers." 
Veresen expects to execute a number of HOAs with prospective customers, which 
will then lead to advanced customer negotiations under long-term LTSA and PSA 
Jordan Cove Energy Project L.P. is a subsidiary of Veresen Inc., and Pacific 
Connector Gas Pipeline, L.P. is a limited partnership owned equally by a 
subsidiary of Veresen and a subsidiary of Williams (WMB). The project level 
subsidiaries have current applications before the Department of Energy and the 
Federal Energy Regulatory Commission in the United States. 
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 two pipeline systems, the 
Alliance Pipeline and the Alberta Ethane Gathering System; a midstream 
business which includes ownership interests in a world-class natural gas 
liquids extraction facility near Chicago, the Hythe/Steeprock complex, and 
other natural gas and NGL processing energy infrastructure; and a power 
business with renewable and gas-fired facilities and development projects in 
Canada and the United States, and district energy systems in Ontario and 
Prince Edward Island. Veresen is actively developing a number of greenfield 
projects and, in the normal course of its business, regularly evaluates and 
pursues acquisition and development opportunities. 
Veresen's common shares, Series A Preferred Shares and 5.75% convertible 
unsecured subordinated debentures, Series C due July 31, 2017 are listed on 
the Toronto Stock Exchange under the symbols "VSN", "VSN.PR.A" and VSN.DB.C", 
respectively. For further information, please visit 
Forward-looking Information 
Certain information contained herein relating to, but not limited to, Veresen 
and its businesses and the offering of the notes, constitutes forward-looking 
information under applicable securities laws. All statements, other than 
statements of historical fact, which address activities, events or 
developments that Veresen expects or anticipates may or will occur in the 
future, are forward-looking information. Forward-looking information typically 
contains statements with words such as "may", "estimate", "anticipate", 
"believe", "expect", "plan", "intend", "target", "project", "forecast" or 
similar words suggesting future outcomes or outlook. Forward-looking 
statements in this news release include, but are not limited to, the timing 
of, and our ability to successfully obtain regulatory approvals for, the 
construction and operation of, and our ability to execute heads of agreement 
or liquefaction tolling services agreements with prospective customers of, the 
Jordan Cove LNG facility and the Pacific Connector Gas Pipeline. Readers are 
also cautioned that such additional information is not exhaustive. The impact 
of any one risk, uncertainty or factor on a particular forward-looking 
statement is not determinable with certainty as these factors are independent 
and management's future course of action would depend on its assessment of all 
information at that time. Although Veresen believes that the expectations 
conveyed by the forward-looking information are reasonable based on 
information available on the date of preparation, no assurances can be given 
as to future results, levels of activity and achievements. Undue reliance 
should not be placed on the information contained herein, as actual results 
achieved will vary from the information provided herein and the variations may 
be material. Veresen makes no representation that actual results achieved will 
be the same in whole or in part as those set out in the forward-looking 
information. Furthermore, the forward-looking statements contained herein are 
made as of the date hereof, and Veresen does not undertake any obligation to 
update publicly or to revise any forward-looking information, whether as a 
result of new information, future events or otherwise, except as required by 
applicable laws. Any forward-looking information contained herein is expressly 
qualified by this cautionary statement.

SOURCE  Veresen Inc. 
Dorreen Miller Director, Investor Relations Phone: (403) 213-3633 
To view this news release in HTML formatting, please use the following URL: 
CO: Veresen Inc.
ST: Alberta
-0- Oct/07/2013 20:50 GMT
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