Tuesday, September 08, 2009

LNG:The Passamaquoddy Study Shows Impacts Of LNG Development Costly, With Limted Benefit

By: Edward French

A study of the potential impacts of liquefied natural gas (LNG) terminals in Passamaquoddy Bay concludes that the economic stimulus provided to the region by one or more LNG import terminals would be limited. An LNG terminal would have significant economic consequences throughout the region, with costs for public safety, staffing and infrastructure running into the millions of dollars for host communities, while the loss in property values along the U.S. side is estimated at $3 million to $8 million. Benefits would be less than expected, as the study concludes that each LNG terminal would provide only 27 construction jobs and 8 operations jobs to local people........

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