From the Daily News:
The Gulf oil spill is giving pause to energy companies with grand designs for the Atlantic coast.
A controversial plan to build a liquefied natural gas terminal on a man-made island 15 miles off the Rockaway Peninsula has been withdrawn due to the backlash from the BP oil spill in the Gulf, among other factors, company officials said.
The Atlantic Sea Island Group's decision to pull the plug on the plan is "temporary" and it plans to "reactivate operations in six months," a company official told the Daily News Tuesday.
The U.S. Coast Guard and the U.S. Department of Transportation's Maritime Administration on Friday accepted the withdrawal of the application to build the artificial island off the Atlantic coast.
In its June 29 letter to those agencies, the company also pointed to the retirement of CEO Howard Bovers and the "prevailing uncertainty" of the global economy as contributing factors to their request. Bovers retired on June 23 for health reasons, according to the letter.
Atlantic Sea Island Group planned to use the terminal to deliver up to 2 billion cubic feet of liquefied natural gas, or LNG, per day through an underwater pipeline connected to the mainland in Nassau County, planners said.