MA LNG Terminals Idle for 2 Years
January 27, 2013
Boston Globe: This is what happens when a bet on energy prices goes spectacularly wrong.
Anticipating that natural gas prices in New England would remain high, 2 companies spent $350 million to $400 million each just a few years ago to build terminals off the North Shore of Massachusetts to bring imported fuel to local consumers.
But as soon as each facility opened, the bottom fell out of the natural gas market and neither offshore terminal has received a drop of imported fuel in more than 2 years.
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