Houston-based Cabot Oil & Gas is one step closer to begin construction on Atlantic Sunrise Project.
After receiving the final Environmental Impact Statement on Dec. 30 from the Federal Energy Regulatory Commission (FERC), the company now awaits the final FERC decision on the project.
"Today, final EIS issuance represents a major milestone toward the final approval of the Atlanta Sunrise Project," Chairman, President and CEO Dan Dinges said.
The final decision from the FERC is anticipated early this year. Once approved, construction is set to start mid-2017 and full in-service will commence the middle of 2018.
Cabot Oil & Gas also announced a gas sale and purchase agreement with an undisclosed company.
"We are also excited to increase our committed sales on the Atlantic Sunrise project utilizing capacity subscribed to by Cabot or by third parties to approximately 1 billion cubic feet (Bcf) per day through the addition of this new sales agreement that is linked to the Gulf Coast market," Dinges said.
Under the terms of the gas sale and purchase agreement, Cabot Oil & Gas will sell an additional 1.5 billion British Thermal Units of natural gas a day for three years, once the project reaches full in-service.
For more information visit company website: www.cabotog.com.