NorthernStar Secures Funding for Its LNG Initiatives
Posted on May 30, 2006 in Regas Terminals & Capacity, State and Local Issues | Comments Off on NorthernStar Secures Funding for Its LNG Initiatives
The Pacific Coast Business Times reports that NorthernStar Natural Gas has raised $100 million to finance its two LNG projects – the Bradwood Landing terminal in Oregon and the revamped offshore California Crystal Clearwater Port, which it secured in its recent acquisition of Crystal Energy LLC. The company says that it plans to file a new application for the California-based project in June after the U.S. Coast Guard noted “several deficiencies” in Crystal Energy’s initial application. Because the proposed Clearwater terminal has an existing platform, the project’s backers say that it may come online sooner than BHP Billiton’s Cabrillo Port LNG facility, also proposed for offshore California.