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Tue June 14, 2011
Hess Corporation abandons plans for LNG
By BRADLEY CAMPBELL
PROVIDENCE, RI – A stunning turnabout from the Hess Corporation.The oil giant says it is abandoning plans to build a liquefied natural gas terminal in Fall River.
For a project that generated so much noisy opposition in both Massachusetts and Rhode Island, the death of the Weaver's Cove LNG terminal came quietly.
In a statement released late Monday, the Hess Corporation said unfavorable economic conditions were causing it to walk away from a project they had been working on for eight years, spending countless millions in the process.
The proposed terminal was widely reviled in both states. Critics argued that frequent tanker traffic would disrupt marine activities on Narragansett Bay and would become inviting targets for terrorists. And densely populated Fall River, they argued, was no place for a gas terminal.
The full weight of Massachusetts and Rhode Island governments was thrown against the project, not to mention numerous municipalities, citizens' and environmental groups. For them the Hess decision is a major victory.
UPDATE: It was also a major victory for Rhode Island's congressional delegaton as well. They too have been fighting the terminal for years. Senators Sheldon Whitehouse and Jack Reed called it a "significant victory to the safety and security of Rhode Islanders." Congressman Jim Langevin said groups like "Save the Bay" deserve credit.
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