Exelon Generation completes purchase of LNG facility in Everett, Massachusetts
Exelon Generation completed its acquisition of the Everett LNG (liquefied natural gas) Facility in Everett, Massachusetts.
Exelon will assume ownership and management of the facility. The Everett LNG Facility is the longest-operating LNG import facility in the country. It connects to two interstate pipeline systems, as well as a local gas utility’s distribution system and the Mystic Generating Station.
Exelon Generation announced an agreement to purchase the facility from ENGIE in March 2018. It will ensure the continued supply of fuel to units of the Mystic Generating Station while they remain in operation. Exelon Generation plans to retire the Mystic Generating Station in June 2022, absent regulatory reforms to properly value reliability and regional fuel security. Currently, those regulatory reforms are pending.
“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,” Exelon Power President John Barnes said.
Exelon Generation will operate the LNG facility, while Exelon’s Constellation subsidiary will be responsible for purchasing and selling LNG to gas utilities, marketers, and other market participants throughout New England. Exelon Generation is based in Kennett Square, Pennsylvania, while Exelon Constellation is based in Baltimore, Maryland.
