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Brief -- Downeast LNG

Downeast LNG, a long-struggling liquefied natural gas (LNG) export terminal proposed for Maine to take advantage of abundant Marcellus and Utica shale natural gas, is up for sale, the project backer said. In announcing the decision, Downeast Chairman George Petrides cited the recent cancellation of Kinder Morgan Inc.'s Northeast Energy Direct (NED) project (see Daily GPIApril 21). Petrides said with the scrapping of NED, "...it is very likely that the Algonquin expansion will happen and will facilitate natural gas going from the Marcellus...to our project in northern Maine." The Algonquin Gas Transmission project is called Access Northeast (see Daily GPIMay 4). Petrides said an industrial investor or infrastructure capital fund would be better suited to continue the pursuit of the terminal project. Last November, Downeast asked the Federal Energy Regulatory Commission to pause proceedings in its docket before the Commission (see Daily GPINov. 4, 2015).

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