Just in time: A surge in FERC certificates supports strong 2018 Northeast supply growth

At the end of January one of the FERC's five commissioners, Norman Bay, announced his resignation. With two seats already vacant, Bay’s departure means that FERC will no longer has a quorum to vote on orders to approve or deny a certificate for gas pipeline siting. However, the industry’s worst fears were avoided when, prior to losing this quorum, the FERC has approved four new Northeast pipeline projects: Tennessee's Orion Expansion, EnergyTransfer's Rover, National Fuel’s Northern Access 2016 and Transco's Atlantic Sunrise. Combined capacity of these four projects account for more than 70% of the new Northeast exit capacity we expect online in 2018. With this insight we further highlight: key milestones and risks associated with each of the projects we forecast to start in 2018; 2018 Northeast supply growth; Northeast basis recovery.