Veresen Receives NEB Approval to Export Natural Gas to Supply the Jordan Cove LNG Project

 Veresen Receives NEB Approval to Export Natural Gas to Supply the Jordan Cove  LNG Project  /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION  IN THE UNITED STATES/  CALGARY, Feb. 20, 2014 /CNW/ - Veresen Inc. ("Veresen" or the "Company") (TSX:  VSN) announced today that its application to the National Energy Board ("NEB")  for a long-term licence to export natural gas from Canada to the United States  has been approved by the NEB. The exported natural gas will supply Veresen's  proposed Jordan Cove liquefied natural gas ("LNG") export project located in  Coos Bay, Oregon. The issuance of the licence to export natural gas is subject  to approval of the Governor in Council.  "This favourable National Energy Board decision is another important step  forward in the development of our Jordan Cove LNG project," said Don Althoff,  President and Chief Executive Officer. "Our proposed LNG facility would  provide western Canadian producers with access to large, new markets,  primarily using existing natural gas infrastructure and our project is  well-positioned to generate long-term benefits for the energy industry."  The NEB permit allows for an export volume of 1.55 billion cubic feet per day  (Bcf/d) for 25 years, translating into 9 million tonnes per year (MMt/y) of  LNG export capacity from the Jordan Cove terminal. While the initial  liquefaction design capacity of the Jordan Cove facility is 6 MMt/y, an  expansion to 9 MMt/y is possible.  To reach the Jordan Cove facility, western Canadian natural gas will travel  via existing pipeline and gas gathering networks to the Malin trading hub  located in southern Oregon.  From Malin, the proposed Pacific Connector Gas  Pipeline ("Pacific Connector") will transport natural gas to the Jordan Cove  liquefaction terminal. Pacific Connector is a proposed 232-mile, 36-inch  pipeline owned equally by Veresen and The Williams Companies, Inc.  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 and each of its pipeline, midstream and power  businesses are also actively developing a number of greenfield projects.  In  the normal course of its business, Veresen and each of its businesses  regularly evaluate and pursue acquisition and development opportunities.  Veresen's common shares, Series A preferred shares, Series C 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", "VSN.PR.C" 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 the sources of, and our ability to successfully obtain regulatory  approvals for,  the supply of natural gas to the Jordan Cove LNG facility.  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 NI: OIL ORDER