Calais LNG has withdrawn its application to build an LNG terminal in Calais, Maine. In a letter sent to the Maine Board of Environmental Protection, the company has blamed ‘the meltdown of the financial markets’ for its decision to halt the project.
Calais LNG has postponed a public hearing on its terminal application thrice since July as it was attempting to resolve some technical difficulties with its bid, including the loss of a key investor.
“This is an unfortunate development,” said Tony Buxton, a lawyer who represents several large industrial customers and also had been active in promoting Calais LNG.
“It’s difficult to get any energy project financed today,” he said.
The availability of cheaper gas from unconventional sources within the US has also no doubt played a role in bringing the project down.
Calais LNG had been planning to build a delivery terminal seven miles south of Calais with a capacity of 1 billion ft3/d. The project plans included a 1000 ft pier, two - three storage tanks and 20 miles of underground pipe to connect the terminal to the Maritimes & Northeast Pipeline.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/17122010/calais_lng_withdraws_application_for_lng_terminal/