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Editorial: Written Guarantees that Broadwater Terminal Will Lower Energy Prices are Needed

A Newsday editorial argues that if the New York State Dept. of State decides to approve the Broadwater Energy LNG receiving terminal proposed for Long Island Sound, Gov. David Paterson (D-N.Y.) should seek a written guarantee from project backer Shell Oi
March 23, 2008

A Newsday editorial argues that if the New York State Dept. of State decides to approve the Broadwater Energy LNG receiving terminal proposed for Long Island Sound, Gov. David Paterson (D-N.Y.) should seek a written guarantee from project backer Shell Oil that the terminal will receive steady LNG supplies at a discounted rate. Citing a study by an energy firm predicting that LNG terminals are being overbuilt, Newsday suggests that LNG cargos otherwise could be diverted from Broadwater to service terminals in Europe or Asia where prices are forecasted to be higher.

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