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May 20, 2016

Robbinston natural gas project to be put on market

By Staff

Downeast LNG, the developer behind a natural gas import and export terminal near the Washington County town of Robbinston, will be putting the project up for sale on July 1.

The chairman of the board for Downeast LNG, George Petrides, said in a statement about the sale that the company believed an infrastructure investor, or similar industrial firm would be a better fit for the project.

"We have reviewed our strategy and decided that an industrial player or a specialized investor such as an infrastructure fund is better suited to continue the permitting process and eventual build-out of the project,” Petrides said.

In addition to a storage tank and liquefaction facilities, the Downeast LNG terminal will include a 30-mile natural gas pipeline that will connect the facility to the existing Maritimes and Northeast Pipeline.

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