Exelon Completes Transactions of Engie LNG Facility

October 5, 2018
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Exelon Generation announced Monday it has completed its acquisition of the Everett LNG Facility in the industrial waterfront, assuming both facility ownership and management of operations.

“With this acquisition, we are ensuring that Mystic Generating Station’s Units 8 and 9 will continue receiving a dependable liquified natural gas supply to help meet New England’s energy reliability and fuel security needs, for as long as the units remain operating,” said Exelon Power President John Barnes.

While Exelon Generation is managing the operation of the LNG facility, Exelon’s Constellation subsidiary will be responsible for purchasing and selling safe, reliable LNG to gas utilities, marketers, and other market participants throughout New England.

In March 2018, Exelon Generation announced an agreement to purchase the facility from ENGIE to ensure the continued reliable supply of fuel to Mystic Units 8 and 9 while they remain operating. The transaction was reviewed by the U.S. Department of Energy, as required. At that time, Exelon Generation also announced that it had filed with ISO New England to retire Mystic Generating Station in June 2022, absent regulatory reforms to properly value reliability and regional fuel security.

Those regulatory reforms are pending.

The Everett LNG Facility is the longest-operating LNG import facility of its kind in the United States and employs approximately 60 people. The facility connects to two interstate pipeline systems, as well as a local gas utility’s distribution system and the Mystic Generating Station.