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Investors Pull Out of Port Westward LNG

The Daily Astorian reports that Port Westward LNG has temporarily suspended its proposal for an LNG terminal near the lower Columbia River because the company has not been able to secure control of the proposed project site. According to the CEO of Port
February 16, 2006

The Daily Astorian reports that Port Westward LNG has temporarily suspended its proposal for an LNG terminal near the lower Columbia River because the company has not been able to secure control of the proposed project site. According to the CEO of Port Westward, project investors have withdrawn their financial support, which appears to have derailed a December 2005 negotiated lease agreement for the proposed project site. Site control is required by Federal regulators for an LNG terminal proposal.

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