Passamaquoddy Tribe Claims Quoddy Bay LNG Owes $500k
Posted on Feb 8, 2007 in Financing, Regas Terminals & Capacity, State and Local Issues | Comments Off on Passamaquoddy Tribe Claims Quoddy Bay LNG Owes $500k
Passamaquoddy Chief Rick Doyle interprets the Tribe’s land-lease agreement with Quoddy Bay LNG, developer of a regas terminal at Pleasant Point, Maine, such that the company should have started making quarterly payments in December 2005. Quoddy Bay LNG Project Manager Brian Smith agreed Tuesday that they owe the tribe money, but maintained that payment is not due until the Tribe has “lived up to its obligation under the lease” and has signed a corollary project coordination and tax agreement. The Bangor Daily News covers the story.