Hess is working with Poten & Partners for the development of a liquefied natural gas terminal in New Jersey despite weak prices and slow demand in the U.S. But the planned terminal will not be operational until 2017, and demand for gas may be different by that period, Hess executive Gordon Shearer said. He added that while the company will also need to assess regulatory and permit concerns, the joint venture has gained "strong local support" and favorable responses from lawmakers.

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