SE_SCEE_2018A 03/15/2018 10:52:38 AM Committee Summary PUBLICSTAFF SUMMARY OF MEETINGSELECT 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 http://www2.leg.state.co.us/CLICS/CLICS2018A/commsumm.nsf/0/1D0FE831D7AF...$File/180315 AttachA.pdf?OpenElement 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