$1.3B LNG project would create new export capacity
Downeast LNG has altered its plan for a liquefied natural gas import terminal in Washington County to include capacity for export of natural gas to global markets.
The Portland Press Herald reported that the project’s $1.3 billion cost is double what the company was previously planning to spend. That’s because the new plan will replace one of its originally proposed storage tanks with equipment to help export natural gas. Downeast LNG is still planning to keep one storage tank for natural gas imported through pipelines.
Downeast LNG is proposing to build the facility on an 80-acre lot in Robbinston, a small town about 15 miles north of Eastport. The company bought the land for $2.5 million last year.
The newspaper noted that Downeast LNG’s expanded proposal is the result of the rising interest in the U.S. to export domestic natural gas to the global market. The company’s CEO, Dean Girdis, said the project is expected to generate $300 million in annual revenue.
The project is facing opposition from Save Passamaquoddy Bay, which said Downeast LNG has misled the Federal Energy Regulatory Commission. The FERC is expected to make a final determination of the project by August. It has already issued a favorable environmental impact statement for the company’s original proposal.
A economic impact study commissioned by Downeast LNG found that the $1.3 billion project would create approximately 2,300 jobs and generate $375 million in labor income during its construction period. The terminal itself would support 337 jobs and generate $68 million in the state’s economy, the University of Maine study said.
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