November 07, 2024
LNG - LIQUIFIED NATURAL GAS

Downeast LNG: The company and its proposal

Downeast LNG, Washington, D.C., founded in 2004.

PROPOSED SITE: LNG terminal and storage facility at Mill Cove, Robbinston.

CURRENT EMPLOYEES: About 10 full-time and about 50 who have assisted.

FUTURE JOBS: 240 people during construction; 56 to operate facility.

PROCESSING CAPACITY: 500 million cubic feet of natural gas daily valued at $3 million at current prices; expected to operate at 40 percent of capacity.

ANNUAL PRODUCT WORTH: More than $1 billion of natural gas.

SITE PARTICULARS: Pier extending 4,000 feet into

Passamaquoddy Bay; one

storage tank with a 5.6 million cubic foot capacity; pipeline connection to the Maritimes & Northeast Pipeline more than 20 miles away.

ROUTE: LNG tanker ships would go through Head

Harbour Passage, a Canadian waterway connecting

Passamaquoddy Bay with the Bay of Fundy.

STATUS: Preliminary proposal submitted to FERC; FERC review under way; approval process could take another

11/2 years.

TARGET OPERATION DATE: 2010.

CAPITAL RAISED: $8 million total; $7.5 million from Kestrel Energy Partners LLC of New York.

KESTREL ENERGY PARTNERS: Yorktown Energy Partners VI LP, which has other energy investments; Paul A. Vermylen Jr.; other investors.

DOWNEAST PRESIDENT DEAN GIRDIS: Background in resource economics and policy; former director of Petroleum Finance Co. in Washington, D.C., specializing in oil, gas and power development, market reform and regulation, and energy security in China; worked for Arthur D. Little and for Environmental Resource Economics. World Bank was a client.

DOWNEAST LNG VICE PRESIDENT ROB WYATT: Environmental consultant for 30 years; worked on industrial development projects in 39 states, Canada, the Caribbean, Mexico and Saudi Arabia; previously involved in the EcoElectrica LNG import terminal development project in Puerto Rico.

PAUL A. VERMYLEN JR.: Former president of Meenan Oil Co.; named chairman of the board of directors of Star Gas Partners LP, on April 28.


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