BP Suspends Crown Landing LNG Project
Posted on Oct 9, 2008 in Markets and Competition, Regas Terminals & Capacity | Comments Off on BP Suspends Crown Landing LNG Project
Citing global market conditions, BP announced yesterday that it is suspending plans to construct and operate the Crown Landing LNG import terminal proposed for the New Jersey side of the Delaware River. A BP spokesperson said the price of LNG in Asian markets was the “overriding factor” in the decision, but the company would retain ownership of the property slated to be used for the project and may “reactivate” the project if conditions change. Read more in the Philadelphia Inquirer.