BP Halts Development of Pelican Island LNG Terminal
Posted on Aug 22, 2006 in Litigation, Markets and Competition, Regas Terminals & Capacity | Comments Off on BP Halts Development of Pelican Island LNG Terminal
The Galveston Daily News today reports that BP has decided not to proceed at this time with its plans to construct an LNG regasification terminal on Pelican Island in Galveston, Texas. BP spokesman Neil Geary characterized the company’s decision not to file a permit application with FERC as “strictly a business decision that has nothing to do with either politics or litigation.” Retaining the opportunity to resume the terminal’s development at a later time, BP has renewed its three-year lease option for the proposed site. [Free registration necessary]