Atlantic Sea Island: Another Proposal for Offshore LNG
On the other hand the Broadwater people, whose expectations are widely regarded as irrationally optimistic, have already been working publicly for 15 months on their plans to put a floating LNG terminal in the middle of Long Island Sound, and they hope to be finished by 2010.
Do we need two offshore LNG terminals, or are the Atlantic people expecting to fill the breach if and when Broadwater fails?
Yesterday’s announcement Atlantic Sea Island Group wants to build a 53-acre island, in 60-feet of water, 13.5 miles south of Long Island and 19 miles east of New Jersey. Up to 220 tankers a year would supply it with LNG, which would be piped to suppliers in the metropolitan area.
The company’s chairman is named Howard Bovers. Apparently he didn’t feel like telling reporters who his investors were, and the reporters either didn’t want to or couldn’t find out anything more about the company.
Considering all the trouble it will take to get either of these proposals approved and built, about all I can conclude is that the profits from LNG must be enormous.
Here’s Newsday’s story, and here’s what the Times published.