By Scott DiSavino

NEW YORK, May 20 (Reuters) - Canadian energy firm Enbridge ENB.TO launched an open season process earlier this week for its proposed Project Beacon to upgrade its existing Algonquin Gas Transmission natural gas pipeline system in New England.

• The project is designed to bring additional energy into the Northeast and help address ongoing high energy costs and reliability concerns, Enbridge said.

• The open season allows customers — such as gas utilities and power plants — to indicate how much gas they may need in the future.

• The project is designed to upgrade existing infrastructure along existing pipeline corridors, which helps increase energy access while minimizing construction impacts.

• The Northeast faces higher energy costs than the rest of the country, particularly during very cold winters and hot summers when demand peaks.

• If customer commitments are secured and regulatory approvals are obtained, Project Beacon could be in service by 2030, Enbridge said.

• Depending on participation, it is expected to generate up to $2 billion per year in savings, Enbridge said.

• Project Beacon could also help avoid the use of higher-emitting fuels, like oil, for power generation.

• The open season runs from May 18 to July 1.

• Project Beacon is separate from Enbridge's 75-million cubic feet per day Algonquin Reliable Affordable Resilient Enhancement (AGT Enhancement), expected to be in service in 2028.

• Based on discussions about the need for more gas in the region, Enbridge said Project Beacon could be sized at about 300 mmcfd, depending on customer commitments.