ConocoPhillips Calls Off Compass Port LNG Plan

In a statement issued on Thursday, Alabama Gov. Bob Riley announced that ConocoPhillips will withdraw its plan to build an LNG terminal off the state’s coast. Riley previously intimated that he would likely veto the Compass Port LNG project if it used open-rack vaporizers, which he said may have an adverse environmental impact on aquatic life in the Gulf. The withdrawal comes more than a month after Louisiana Gov. Kathleen Blanco vetoed a similar project proposed by Freeport-McMoRan. Riley, who will make a formal announcement today, says ConocoPhillips will continue to explore alternate regasification technologies for use in the Gulf. Today’s Mobile Register has the story.

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