Developer of a proposed LNG export terminal facility on the Skipanon Peninsula in Warrenton, Oregon, the Oregon LNG, has dropped the project plans amid lack of funding.
“The Oregon LNG Project today (April 15th) announced it is ceasing operations immediately. The owner of the project, Leucadia National Corporation, has made the decision to cease funding the project,” the company said, without disclosing further details on the decision.
The Oregon LNG project’s design included a marine loading terminal, two full-containment 160,000 cubic meter LNG storage tanks, and facilities to support ship berthing and cargo loading.
The construction on the project was scheduled to start in 2017 with its inauguration date set for 2020. The project was expected to produce up to 9 million metric tones of LNG annually.
The project, worth USD 6 billion, was aiming to export LNG to Asian markets, which have recorded strong demand for LNG with strong prospects for continuation of the trend.
World Maritime News Staff