[Federal Register: November 29, 2007 (Volume 72, Number 229)]
[Notices]
[Page 67612-67615]
[DOCID:fr29no07-41]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-56831; File No. SR-Amex-2007-98]

Self-Regulatory Organizations; American Stock Exchange LLC; Order
Granting Accelerated Approval of a Proposed Rule Change, as Modified by
Amendment Nos. 1 and 2, Relating to the Listing and Trading of Units of
the United States 12 Month Oil Fund, LP and the United States 12 Month
Natural Gas Fund, LP

November 21, 2007.

I. Introduction

    Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 \2\ thereunder, notice is hereby given
that on August 23, 2007, the American Stock Exchange LLC (``Amex'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have been substantially prepared by the Exchange.
On September 14, 2007, the Exchange submitted Amendment No. 1 to the
proposed rule change. On October 25, 2007, the Exchange submitted
Amendment No. 2 to the proposed rule change. The proposed rule change,
as

amended, was published for comment in the Federal Register on November
2, 2007 for a 15-day comment period.\3\ This order approves the
proposed rule change, as modified by Amendment Nos. 1 and 2 on an
accelerated basis.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 56719 (October 29,
2007), 72 FR 62277 (``Notice'').
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II. Description of Proposal

    The Exchange proposes to list and trade units (each a ``Unit'' and,
collectively, the ``Units'') of each of the United States 12 Month Oil
Fund, LP (``12 Month Oil Fund'') and the United States 12 Month Natural
Gas Fund, LP (``12 Month Natural Gas Fund'') (each a ``Partnership''
and, collectively, the ``Partnerships'') pursuant to Amex Rules 1500-
AEMI and 1501 through 1505.\4\ The Exchange has represented that the
Units will conform to the initial and continued listing criteria under
Rule 1502,\5\ specialist prohibitions under Rule 1503 and the
obligations of specialists under Rule 1504.
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    \4\ Amex Rule 1500-AEMI provides for the listing of Partnership
Units, which are defined as securities, that are: (a) issued by a
partnership that invests in any combination of futures contracts,
options on futures contracts, forward contracts, commodities, and/or
securities; and (b) that are issued and redeemed daily in specified
aggregate amounts at net asset value. See Exchange Act Release No.
53582 (March 31, 2006), 71 FR 17510 (April 6, 2006) (SR-Amex-2005-
127) (approving Amex Rules 1500-AEMI and 1501 through 1505 in
conjunction with the listing and trading of Units of the United
States Oil Fund, LP).
    \5\ The Amex stated that it will require a minimum of 100,000
Units to be outstanding at the start of trading and expects that the
initial price of a Unit will be $50.00.
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    Ownership of a Partnership Unit represents a fractional undivided
unit of a beneficial interest in the net assets of that Partnership.\6\
Each of the net assets of the 12 Month Oil Fund and the 12 Month
Natural Gas Fund will consist primarily of investments in futures
contracts for crude oil, heating oil, gasoline, natural gas, and other
petroleum-based fuels that are traded on the New York Mercantile
Exchange (``NYMEX''), Intercontinental Exchange (``ICE Futures'') or
other U.S. and foreign exchanges (collectively, ``Futures Contracts'').
In the case of the 12 Month Oil Fund, the predominant investments are
expected to be based on, or related to, crude oil. Similarly, for the
12 Month Natural Gas Fund, the predominant investments are expected to
be based on, or related to, natural gas.
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    \6\ Each Partnership is a commodity pool that will issue Units
that may be purchased and sold on the Exchange.
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    The 12 Month Oil Fund may also invest in other crude oil-related
investments such as cash-settled options on Futures Contracts, forward
contracts for crude oil, and over-the-counter (``OTC'') transactions
based on the price of crude oil, heating oil, gasoline, natural gas,
other petroleum-based fuels, Futures Contracts, and indices based on
the foregoing (collectively, ``Other Crude Oil-Related Investments'').
Futures Contracts and Other Crude Oil-Related Investments collectively
are referred to as ``Crude Oil Interests.'' Similarly, the 12 Month
Natural Gas Fund may also invest in other natural gas-related
investments such as cash-settled options on Futures Contracts, forward
contracts for natural gas, and OTC transactions based on the price of
natural gas, crude oil and other petroleum-based fuels, Futures
Contracts and indices based on the foregoing (collectively, ``Other
Natural Gas-Related Investments''). Futures Contracts and Other Natural
Gas-Related Investments collectively are referred to as ``Natural Gas
Interests.''
    Each of the 12 Month Oil Fund and the 12 Month Natural Gas Fund
will invest in Crude Oil Interests and Natural Gas Interests,
respectively, to the fullest extent possible without being leveraged or
unable to satisfy its current or potential margin or collateral
obligations. In pursuing this objective, the primary focus of each
Partnership's investment manager, Victoria Bay Asset Management, LLC
(``General Partner''), will be the investment in Futures Contracts and
the management of its investments in short-term obligations of the
United States of two years or less (``Treasuries'') and cash and cash
equivalents (collectively, ``Cash'') for margining purposes and as
collateral.
    Each Fund seeks to track price changes in percentage terms of an
underlying commodity as measured by a benchmark defined to be the
average price of specified futures contracts.\7\ The investment
objective of the 12 Month Oil Fund is for the changes in percentage
terms of the Units' net asset value (``NAV'') to reflect the changes in
percentage terms of the price of light, sweet crude oil delivered to
Cushing, Oklahoma, as measured by the changes in the average of the
prices of twelve crude oil futures contracts traded on NYMEX (the ``Oil
Benchmark Futures Contracts''), less the 12 Month Oil Fund's
expenses.\8\ Similarly, the investment objective of the 12 Month
Natural Gas Fund is for the changes in percentage terms of the Units'
NAV to reflect the changes in percentage terms of the price of natural
gas delivered at the Henry Hub, Louisiana, as measured by the changes
in the average of the prices of 12 futures contracts on natural gas
traded on NYMEX (the ``Natural Gas Benchmark Futures Contracts''), less
the 12 Month Natural Gas Fund's expenses.\9\ With respect to both
funds, when calculating the daily movement of the average price of the
relevant twelve futures contracts, each contract month will be equally
weighted.
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    \7\ A detailed discussion of the underlying benchmark for each
Fund, dissemination of the values thereof, investment objective of
the Funds, portfolio investment methodology, investment techniques,
availability of information and key values, creation and redemption
of Units, dividends and distributions, Amex's initial and continued
listing standards, Amex trading rules and trading halts, information
circular to Exchange members, and other related information
regarding the Funds can be found in the Notice. See supra note 3.
    \8\ The Oil Benchmark Futures Contracts consist of the near
month contract to expire and the contracts for the following eleven
months, for a total of twelve consecutive months' contracts, except
when the near month contract is within two weeks of expiration, in
which case it will be measured by the futures contracts that are the
next month contract to expire and the contracts for the eleven
consecutive months following that contract. The average price is
determined by summing up the 12 individual monthly prices and
dividing them by 12, and then comparing that result to the prior
day's average price determined in the same fashion. The composition
of the Oil Benchmark Futures Contracts will be changed or ``rolled''
over a one day period by selling the near month contract and buying
the contract, which at that time is the thirteen month contract.
    \9\ The Natural Gas Benchmark Futures Contracts consist of the
near month contract to expire and the contracts for the following
eleven months, for a total of twelve consecutive months' contracts,
except when the near month contract is within two weeks of
expiration, in which case it will be measured by the futures
contracts that are the next month contract to expire and the
contracts for the eleven consecutive months following that contract.
The average price is determined by summing up the 12 individual
monthly prices and dividing them by 12, and then comparing that
result to the prior day's average price determined in the same
fashion. The composition of the Natural Gas Benchmark Futures
Contract will be changed or ``rolled'' over a one day period by
selling the near month contract and buying the contract which at
that time is the thirteen month contract on the same day.
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    The General Partner for the Funds will employ a ``neutral''
investment strategy intended to track the changes in the price of crude
oil and natural gas, respectively, regardless of whether the price of
those commodities goes up or goes down. The ``neutral'' investment
strategy is designed to permit investors to purchase and sell the
Funds' Units for the purpose of investing indirectly in crude oil and
natural gas in a cost-effective manner and/or to permit market
participants to hedge the risk of losses in crude oil or natural gas
investments.

III. Commission Findings and Accelerated Approval

    After careful review, the Commission finds that the proposed rule
change is consistent with the requirements of the Act and the rules and
regulations

thereunder applicable to a national securities exchange.\10\ In
particular, the Commission finds that the proposed rule change is
consistent with section 6(b)(5) of the Act,\11\ which requires that an
exchange have rules designed, among other things, to prevent fraudulent
and manipulative acts and practices, to promote just and equitable
principles of trade, to foster cooperation and coordination with
persons engaged in facilitating transactions in securities, and to
remove impediments to and perfect the mechanism of a free and open
market and a national market system, and, in general to protect
investors and the public interest; and is not designed to permit unfair
discrimination between customers, issuers, brokers, or dealers, or to
regulate by virtue of any authority conferred by the Act matters not
related to the purpose of the Act or the administration of the
Exchange. The Commission notes that it previously approved the original
listing and trading of certain partnership units similar to the
Units.\12\
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    \10\ In approving this proposed rule change, the Commission
notes that it has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
    \11\ 15 U.S.C. 78f(b)(5).
    \12\ See Securities Exchange Act Release Nos. 53582 (March 31,
2006), 71 FR 17510 (April 6, 2006) (SR-Amex-2005-127) (approving
Amex Rules 1500-AEMI and 1501 through 1505 in conjunction with the
listing and trading of Units of the United States Oil Fund, LP); and
55632 (April 13, 2007), 72 FR 19987 (April 20, 2007) (SR-Amex-2006-
112) (approving the listing and trading of shares of the United
States Natural Gas Fund, LP).
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    The Commission further believes that the proposal is consistent
with section 11A(a)(1)(C)(iii) of the Act,\13\ which sets forth
Congress' finding that it is in the public interest and appropriate for
the protection of investors and the maintenance of fair and orderly
markets to assure the availability to brokers, dealers, and investors
of information with respect to quotations for and transactions in
securities. The Amex will disseminate for each Partnership every 15
seconds throughout Amex's trading day by means of the Consolidated Tape
Association/Consolidated Quote High Speed Lines information with
respect to the indicative partnership value (``IPV''). The Exchange
will also make available on its Web site daily trading volume, the
closing prices, and the NAV. Web site disclosure of portfolio holdings
for both Funds will be made daily and will include, as applicable, the
specific types, the name and value of each Crude Oil or Natural Gas
Interest, the specific types of Crude Oil or Natural Gas Interests and
characteristics of such Crude Oil or Natural Gas Interests, Treasuries,
and amount of Cash held in the portfolio of the Funds. In addition,
Amex represented that quotations and last-sale information regarding
the Futures Contracts are widely disseminated through a variety of
market data vendors worldwide, including Bloomberg and Reuters. In
addition, the Exchange further represented that real-time futures data
is available by subscription from Reuters and Bloomberg.
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    \13\ 15 U.S.C. 78k-1(a)(1)(C)(iii).
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    Furthermore, the Commission believes that the proposal to list and
trade the Units is reasonably designed to promote fair disclosure of
information that may be necessary to price the Units appropriately and
to prevent trading when a reasonable degree of transparency cannot be
assured. The Commission also believes that the Exchange's trading halt
rules are reasonably designed to prevent trading in the Units when
transparency is impaired. Trading in the Units will be halted in the
event the market volatility trading halt parameters set forth in Amex
Rule 117 have been reached. In addition, Amex Rule 1502(b)(ii)-(iii)
provides that, if the IPV or the underlying benchmark futures contract
of a Fund is not being disseminated as required, the Exchange may halt
trading during the day in which the interruption to the dissemination
occurs. If the interruption to the dissemination of the IIV or the
underlying benchmark futures contract persists past the trading day in
which it occurred, the Exchange will halt trading no later than the
beginning of the trading day following the interruption.
    The Commission further believes that the trading rules and
procedures to which the Units will be subject pursuant to this proposal
are consistent with the Act. The Exchange has represented that the
Units will be traded on the Exchange similar to other equity
securities.
    In support of this proposal, the Exchange has made the following
representations:
    (1) The Exchange will obtain a representation from each
Partnership, prior to listing, that the NAV per Unit for each Fund will
be calculated daily and made available to all market participants at
the same time. In addition, the Exchange represents that disclosure of
the portfolio composition for each Fund will be made to all market
participants at the same time.
    (2) The Exchange's surveillance procedures are adequate to deter
and detect violations of Exchange rules relating to trading of the
Units. Specifically, the surveillance procedures will be similar to
those used for units of the United States Oil Fund, LP and the United
States Natural Gas Fund, LP as well as other commodity-based trusts,
trust issued receipts, and exchange-traded funds. In addition, the
surveillance procedures will incorporate and rely upon existing Amex
surveillance procedures governing options and equities. The Exchange
currently has in place a comprehensive surveillance sharing agreement
with each of NYMEX and ICE Futures for the purpose of providing
information in connection with trading in, or related to, futures
contracts traded on NYMEX and ICE Futures, respectively. To the extent
that a Partnership invests in Crude Oil Interests or Natural Gas
Interests traded on other exchanges, the Amex will enter into
comprehensive surveillance sharing agreements with those particular
exchanges. The Exchange has represented that each of the Partnerships
will only invest in futures contracts on markets where the Exchange has
entered into the appropriate comprehensive surveillance sharing
agreements.
    (3) Prior to the commencement of trading, the Exchange will inform
its members and member organizations in an Information Circular. The
Information Circular will discuss the special characteristics, and
risks, of trading in the Units. Specifically, the Information Circular,
among other things, will discuss what the Units are, how a basket of
Units is created and redeemed, the requirement that members and member
firms deliver a prospectus to investors purchasing the Units prior to,
or concurrently with, the confirmation of a transaction, applicable
Amex rules, dissemination of information regarding the per-Unit IPV,
trading information, and applicable suitability rules. The Information
Circular will also reference the fact that there is no regulated source
of last sale information regarding physical commodities, and describe
the regulatory framework relating to the trading of crude oil, natural
gas, heating oil, gasoline, or other petroleum-based fuels and crude
oil- and natural gas-based futures contracts and related options. The
Information Circular will also discuss any relief, if granted, by the
Commission or the staff from any rules under the Act.
    (4) The Trust is required to comply with Rule 10A-3 under the Act
\14\ for the initial and continued listing of the Units.
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    \14\ 17 CFR 240.10A-3.

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    This approval order is based on the Exchange's representations.

Acceleration

    The Commission finds good cause, pursuant to Section 19(b)(2) of
the Act,\15\ for approving the proposed rule change, as amended, prior
to the thirtieth day after the date of publication of notice in the
Federal Register. The Commission notes that the present proposal is
similar to prior proposals that the Commission has approved,\16\ is
consistent with current Amex listing requirements, and received no
comments following publication in the Federal Register. The Commission
does not believe that the proposed rule change, as amended, raises
novel regulatory issues. Consequently, the Commission believes that it
is appropriate to permit investors to benefit from these additional
investment choices without delay.
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    \15\ 15 U.S.C. 78s(b)(2).
    \16\ See supra, note 12.
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    Accordingly, the Commission finds that there is good cause,
consistent with section 6(b)(5) of the Act,\17\ to approve the
proposal, as amended, on an accelerated basis.
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    \17\ 15 U.S.C. 78s(b)(5).
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V. Conclusion

    It is therefore ordered, pursuant to section 19(b)(2) of the
Act,\18\ that the proposed rule change (SR-Amex-2007-98), as amended,
be, and is hereby approved on an accelerated basis.
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    \18\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\19\
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    \19\ 17 CFR 200.30-3(a)(12).
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Nancy M. Morris,
Secretary.
[FR Doc. E7-23169 Filed 11-28-07; 8:45 am]

BILLING CODE 8011-01-P


[Federal Register Volume 83, Number 60 (Wednesday, March 28, 2018)]
[Notices]
[Page 13274]
[FR Doc No: 2018-06186]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. CP18-108-000]

Florida Southeast Connection, LLC; Notice of Application

    Take notice that on March 9, 2018, Florida Southeast Connection,
LLC (FSC), 700 Universe Boulevard, Juno Beach, Florida 33408, filed an
application under sections 7(c) and 7(e) of the Natural Gas Act (NGA),
and Part 157 of the Commission's regulations, requesting authorization
to acquire, operate, and maintain approximately 38 miles of existing
natural gas pipeline, three 3,500 brake horsepower (bhp) electric-
powered compressors, and related facilities (Riviera Lateral), located
in Martin and Palm Beach Counties, Florida, which are currently owned
by Florida Power & Light Company (FPL) and operated as non-
jurisdictional facilities. The facilities currently have a capacity of
384 million cubic feet per day (MMcf/d), all as more fully set forth in
the application which is on file with the Commission and open for
public inspection.
    The filing may also be viewed on the web at http://www.ferc.gov
using the ``eLibrary'' link. Enter the docket number excluding the last
three digits in the docket number field to access the document. For
assistance, please contact FERC at [email protected] or toll
free at<PHONE_NUMBER>, or TTY,<PHONE_NUMBER>.
    Any questions regarding the proposed project should be directed to
William Lavarco, Attorney, Florida Southeast Connection, LLC, 700
Universe Boulevard, Juno Beach, Florida 33408, or by calling (202) 347-
7127 or by email at [email protected].
    Pursuant to section 157.9 of the Commission's rules, 18 CFR 157.9,
within 90 days of this Notice the Commission staff will either:
complete its environmental assessment (EA) and place it into the
Commission's public record (eLibrary) for this proceeding; or issue a
Notice of Schedule for Environmental Review. If a Notice of Schedule
for Environmental Review is issued, it will indicate, among other
milestones, the anticipated date for the Commission staff's issuance of
the final environmental impact statement (FEIS) or EA for this
proposal. The filing of the EA in the Commission's public record for
this proceeding or the issuance of a Notice of Schedule for
Environmental Review will serve to notify federal and state agencies of
the timing for the completion of all necessary reviews, and the
subsequent need to complete all federal authorizations within 90 days
of the date of issuance of the Commission staff's FEIS or EA.
    There are two ways to become involved in the Commission's review of
this project. First, any person wishing to obtain legal status by
becoming a party to the proceedings for this project should, on or
before the comment date stated below, file with the Federal Energy
Regulatory Commission, 888 First Street NE, Washington, DC 20426, a
motion to intervene in accordance with the requirements of the
Commission's Rules of Practice and Procedure (18 CFR 385.214 or
385.211) and the Regulations under the NGA (18 CFR 157.10). A person
obtaining party status will be placed on the service list maintained by
the Secretary of the Commission and will receive copies of all
documents filed by the applicant and by all other parties. A party must
submit 7 copies of filings made with the Commission and must mail a
copy to the applicant and to every other party in the proceeding. Only
parties to the proceeding can ask for court review of Commission orders
in the proceeding.
    However, a person does not have to intervene in order to have
comments considered. The second way to participate is by filing with
the Secretary of the Commission, as soon as possible, an original and
two copies of comments in support of or in opposition to this project.
The Commission will consider these comments in determining the
appropriate action to be taken, but the filing of a comment alone will
not serve to make the filer a party to the proceeding. The Commission's
rules require that persons filing comments in opposition to the project
provide copies of their protests only to the party or parties directly
involved in the protest.
    Persons who wish to comment only on the environmental review of
this project should submit an original and two copies of their comments
to the Secretary of the Commission. Environmental commenters will be
placed on the Commission's environmental mailing list, will receive
copies of the environmental documents, and will be notified of meetings
associated with the Commission's environmental review process.
Environmental commenters will not be required to serve copies of filed
documents on all other parties. However, the non-party commenters will
not receive copies of all documents filed by other parties or issued by
the Commission (except for the mailing of environmental documents
issued by the Commission) and will not have the right to seek court
review of the Commission's final order.
    The Commission strongly encourages electronic filings of comments,
protests and interventions in lieu of paper using the ``eFiling'' link
at http://www.ferc.gov. Persons unable to file electronically should
submit an original and 5 copies of the protest or intervention to the
Federal Energy Regulatory Commission, 888 First Street NE, Washington,
DC 20426.
    Comment Date: 5:00 p.m. Eastern Time on April 12, 2018.

     Dated: March 22, 2018.
Kimberly D. Bose,
Secretary.
[FR Doc. 2018-06186 Filed 3-27-18; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register Volume 79, Number 31 (Friday, February 14, 2014)]
[Notices]
[Pages 8956-8958]
[FR Doc No: 2014-03189]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. PF14-5-000]

Algonquin Gas Transmission, LLC; Notice of Intent To Prepare an
Environmental Assessment for the Planned Salem Lateral Project, Request
for Comments on Environmental Issues, and Notice of Public Scoping
Meeting

    The staff of the Federal Energy Regulatory Commission (FERC or
Commission) will prepare an environmental assessment (EA) that will
discuss the environmental impacts of the Salem Lateral Project
involving construction and operation of facilities by Algonquin Gas
Transmission, LLC (Algonquin) in Salem, Massachusetts. The Commission
will use this EA in its decision-making process to determine whether
the project is in the public convenience and necessity.
    This notice announces the opening of the scoping process the
Commission will use to gather input from the public and interested
agencies on the project. Your input will help the Commission staff
determine what issues they need to evaluate in the EA. Please note that
the scoping period will close on March 10, 2014.
    You may submit comments in written form. Further details on how to
submit written comments are in the Public Participation section of this
notice. In lieu of or in addition to sending written comments, the
Commission invites you to attend the public scoping meeting scheduled
as follows:

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             Date and time                           Location
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Thursday, March 6, 2014, 6:00 pm local   Bentley Elementary School
 time.                                    Cafetorium, 25 Memorial Drive,
                                          Salem, MA 01970.
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    This notice is being sent to the Commission's current environmental
mailing list for this project. State and local government
representatives should notify their constituents of this planned
project and encourage them to comment on their areas of concern.
    If you are a landowner receiving this notice, a pipeline company
representative may contact you about the acquisition of an easement to
construct, operate, and maintain the planned facilities. Algonquin
would seek to negotiate a mutually acceptable agreement. However, if
the Commission approves the project, that approval conveys with it the
right of eminent domain. Therefore, if easement negotiations fail to
produce an agreement, the pipeline company could initiate condemnation
proceedings where compensation would be determined in accordance with
state law.
    A fact sheet prepared by the FERC entitled ``An Interstate Natural
Gas Facility on My Land? What Do I Need To Know?'' is available for
viewing on the FERC Web site (www.ferc.gov). This fact sheet addresses
a number of typically asked questions, including the use of eminent
domain and how to participate in the Commission's proceedings.

Summary of the Planned Project

    Algonquin plans to construct and operate 1.2 miles of new 16-inch-
diameter lateral pipeline and a new metering and regulation station in
Salem, Massachusetts in order to supply 115,000 dekatherms per day of
natural gas to the Salem Harbor Station facility for power
generation.\1\ The general location of the project facilities is shown
in appendix 1.\2\
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    \1\ The Salem Harbor Station facility is being redeveloped from
an existing coal burning electric generation plant to a new natural
gas-fired electric generation facility by Footprint Power Salem
Harbor Development, LP.
    \2\ The appendices referenced in this notice will not appear in
the Federal Register. Copies of the appendices were sent to all
those receiving this notice in the mail and are available at
www.ferc.gov using the link called ``eLibrary'' or from the
Commission's Public Reference Room, 888 First Street NE.,
Washington, DC 20426, or call<PHONE_NUMBER>. For instructions on
connecting to eLibrary, refer to the Additional Information section
at the end of this notice.
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Land Requirements for Construction

    Construction of the planned facilities would involve conventional
onshore construction and use of horizontal directional drills (HDD).
Onshore construction would disturb approximately 11 acres of land for
the pipeline and meter station. Following construction, Algonquin would
maintain about 0.5 acre for permanent operation of the meter station
and approximately 4 acres for the permanent onshore easement. About 7
percent of the planned lateral route parallels an existing electric
transmission right-of-way. Two HDDs would be utilized to cross Collins
Cove (for approximately 0.4 mile) and Beverly Harbor (for approximately
0.2 mile), up to a tie-in location with Algonquin's existing Hubline
Pipeline. In-water work would be limited to the area immediately
surrounding the new subsea tie-in within Beverly Harbor.

The EA Process

    The National Environmental Policy Act (NEPA) requires the
Commission to take into account the environmental impacts that could
result from an action whenever it considers the issuance of a
Certificate of Public Convenience and Necessity. NEPA also requires us
\3\ to discover and address concerns the public may have about
proposals. This process is referred to as scoping. The main goal of the
scoping process is to focus the analysis in the EA on the important
environmental issues. By this notice, the Commission requests public
comments on the scope of the issues to address in the EA. We will
consider all filed comments during the preparation of the EA.
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    \3\ ``We,'' ``us,'' and ``our'' refer to the environmental staff
of the Commission's Office of Energy Projects.
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    In the EA we will discuss impacts that could occur as a result of
the construction and operation of the planned project under these
general headings:
     Geology and soils;
     water resources, fisheries, and wetlands;
     vegetation and wildlife;
     endangered and threatened species;
     cultural resources;
     land use;
     air quality and noise;
     reliability and safety; and
     cumulative environmental impacts.
    We will also evaluate possible alternatives to the planned project
or portions of the project, and make recommendations on how to lessen
or avoid impacts on the various resource areas.
    Although no formal application has been filed, we have already
initiated our NEPA review under the Commission's pre-filing process.
The purpose of the pre-filing process is to encourage early involvement
of interested stakeholders

and to identify and resolve issues before the FERC receives an
application. As part of our pre-filing review, we have begun to contact
some federal and state agencies to discuss their involvement in the
scoping process and the preparation of the EA.
    Our independent analysis of the issues will be presented in the EA.
The EA will be available in the public record through the Commission's
eLibrary. Depending on the comments received during scoping, we may
also publish and distribute the EA to the public for an allotted
comment period. We will consider all comments on the EA before we make
our recommendations to the Commission. To ensure we have the
opportunity to consider and address your comments, please carefully
follow the instructions in the Public Participation section of this
notice.
    With this notice, we are asking agencies with jurisdiction by law
and/or special expertise with respect to the environmental issues
related to this project to formally cooperate with us in the
preparation of the EA.\4\ Agencies that would like to request
cooperating agency status should follow the instructions for filing
comments provided under the Public Participation section of this
notice. Currently, the U.S. Army Corps of Engineers has expressed its
intention to participate as a cooperating agency in the preparation of
the EA to satisfy its NEPA responsibilities related to this project.
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    \4\ The Council on Environmental Quality regulations addressing
cooperating agency responsibilities are at Title 40, Code of Federal
Regulations, Part 1501.6.
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Consultations Under Section 106 of the National Historic Preservation
Act

    In accordance with the Advisory Council on Historic Preservation's
implementing regulations for section 106 of the National Historic
Preservation Act, we are using this notice to initiate consultation
with the Massachusetts State Historic Preservation Office (SHPO), and
to solicit its views and those of other government agencies, interested
Indian tribes, and the public on the project's potential effects on
historic properties.\5\ We will define the project-specific Area of
Potential Effects (APE) in consultation with the SHPO as the project
develops. On natural gas facility projects, the APE at a minimum
encompasses all areas subject to ground disturbance (examples include
construction right-of-way, contractor/pipe storage yards, and access
roads). Our EA for this project will document our findings on the
impacts on historic properties and summarize the status of
consultations under section 106.
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    \5\ The Advisory Council on Historic Preservation regulations
are at Title 36, Code of Federal Regulations, Part 800. Those
regulations define historic properties as any prehistoric or
historic district, site, building, structure, or object included in
or eligible for inclusion in the National Register of Historic
Places.
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Currently Identified Environmental Issues

    We have already identified several issues that we think deserve
attention based on a preliminary review of the planned facilities and
the environmental information provided by Algonquin. This preliminary
list of issues may change based on your comments and our analysis.
     impact on aquatic resources;
     contaminated soils;
     cumulative impacts on air quality; and
     construction in residential areas.

Public Participation

    You can make a difference by providing us with your specific
comments or concerns about the project. Your comments should focus on
the potential environmental effects, reasonable alternatives, and
measures to avoid or lessen environmental impacts. The more specific
your comments, the more useful they will be. To ensure that your
comments are timely and properly recorded, please send your comments so
that the Commission receives them in Washington, DC on or before March
10, 2014.
    For your convenience, there are three methods you can use to submit
your comments to the Commission. In all instances, please reference the
project docket number (PF14-5-000) with your submission. The Commission
encourages electronic filing of comments and has expert staff available
to assist you at<PHONE_NUMBER> or<EMAIL_ADDRESS>    (1) You can file your comments electronically using the eComment
feature located on the Commission's Web site (www.ferc.gov) under the
link to Documents and Filings. This is an easy method for interested
persons to submit brief, text-only comments on a project;
    (2) You can file your comments electronically using the eFiling
feature located on the Commission's Web site (www.ferc.gov) under the
link to Documents and Filings. With eFiling, you can provide comments
in a variety of formats by attaching them as a file with your
submission. New eFiling users must first create an account by clicking
on ``eRegister.'' You must select the type of filing you are making. If
you are filing a comment on a particular project, please select
``Comment on a Filing''; or
    (3) You can file a paper copy of your comments by mailing them to
the following address: Kimberly D. Bose, Secretary, Federal Energy
Regulatory Commission, 888 First Street NE., Room 1A, Washington, DC
20426.

Environmental Mailing List

    The environmental mailing list includes federal, state, and local
government representatives and agencies; elected officials;
environmental and public interest groups; Native American Tribes; other
interested parties; and local libraries and newspapers. This list also
includes all affected landowners (as defined in the Commission's
regulations) who are potential right-of-way grantors, whose property
may be used temporarily for project purposes, or who own homes within
certain distances of aboveground facilities, and anyone who submits
comments on the project. We will update the environmental mailing list
as the analysis proceeds to ensure that we send the information related
to this environmental review to all individuals, organizations, and
government entities interested in and/or potentially affected by the
planned project.
    If we publish and distribute the EA, copies will be sent to the
environmental mailing list for public review and comment. If you would
prefer to receive a paper copy of the document instead of the CD
version or would like to remove your name from the mailing list, please
return the attached Information Request (appendix 2).

Becoming an Intervenor

    Once Algonquin files its application with the Commission, you may
want to become an ``intervenor'' which is an official party to the
Commission's proceeding. Intervenors play a more formal role in the
process and are able to file briefs, appear at hearings, and be heard
by the courts if they choose to appeal the Commission's final ruling.
An intervenor formally participates in the proceeding by filing a
request to intervene. Instructions for becoming an intervenor are in
the User's Guide under the ``e-filing'' link on the Commission's Web
site. Please note that the Commission will not accept requests for
intervenor status at this time. You must wait until the Commission
receives a formal application for the project.

Additional Information

    Additional information about the project is available from the
Commission's Office of External Affairs, at (866) 208-FERC, or on the
FERC Web

site (www.ferc.gov) using the eLibrary link. Click on the eLibrary
link, click on ``General Search'' and enter the docket number,
excluding the last three digits in the Docket Number field (i.e., PF14-
5). Be sure you have selected an appropriate date range. For
assistance, please contact FERC Online Support at
<EMAIL_ADDRESS>or toll free at<PHONE_NUMBER>, or for TTY,
contact<PHONE_NUMBER>. The eLibrary link also provides access to the
texts of formal documents issued by the Commission, such as orders,
notices, and rulemakings.
    In addition, the Commission offers a free service called
eSubscription which allows you to keep track of all formal issuances
and submittals in specific dockets. This can reduce the amount of time
you spend researching proceedings by automatically providing you with
notification of these filings, document summaries, and direct links to
the documents. Go to www.ferc.gov/esubscribenow.htm.
    Finally, public meetings or site visits will be posted on the
Commission's calendar located at www.ferc.gov/EventCalendar/EventsList.aspx along with other related information.

    Dated: February 7, 2014.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2014-03189 Filed 2-13-14; 8:45 am]
BILLING CODE 6717-01-P