FERC Cans Maine Gas Import Plan After 2 Years In Limbo

Law360, New York (April 6, 2012, 6:11 PM EDT) -- Federal regulators pulled the plug Wednesday on a longtime effort to build a liquified natural gas import terminal in Maine that has been stalled since 2010, when Goldman Sachs & Co. pulled its financial support and the project's developer lost rights to the land.

Jeff Wright, head of energy projects at the Federal Energy Regulatory Commission, told the two principal developers behind Calais LNG LLC that the six-year project was no longer a candidate for federal approval.

“Your continued inability to secure either financing or a...
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