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I remember when they opened that offshore LNG port – they built it when energy prices were through the roof, and everyone expected LNG imports to remain profita
by favorited 8y ago
I remember when they opened that offshore LNG port – they built it when energy prices were through the roof, and everyone expected LNG imports to remain profitable.
They built the port miles offshore because MA was banning harbor-side offloading of LNG due to concerns of accidents or attacks on LNG tankers. But by the time they completed it, hydraulic fracking had become so successful that LNG prices collapsed and no one wanted to import it anymore.
https://www.bostonglobe.com/business/2013/01/23/offshore-gas-terminals-mass-bust-far/Qu8dyZzF6yBNAsDNaTT1ZJ/story.html https://www.bostonglobe.com/business/2013/01/23/offshore-gas...
- Nicholas_C 8y agoThe same thing happened with the Cheniere Energy in Louisiana but due to the location they were able to turn it into an export facility.
- Scoundreller 8y agoLucky. It’s not cheap/easy to convert from LNG import to LNG export.