USA. Man made island for LNG terminal reaches regulatory milestone

Monday, 20 August 2007

Atlantic Sea Island Group, LLC has announced that they have received notification from the United States Coast Guard that their application to create an LNG deepwater terminal on a 60.5 acres constructed island 13.5 approximate miles south of Long Beach, Long Island, has been deemed "complete" and allows the regulatory, oversight and review process to continue pursuant to federal regulations.

Far from population centers and outside of vital shipping lanes, Safe Harbor Energy will have the capacity to deliver 2 billion cubic feet of natural gas each day to 65 million consumers, ending the area's dependence on natural gas shipped up from the Gulf Coast some 1,200 miles away.

In a letter from M.A. Prescott, Chief, Deepwater Ports Standards Division of the Coast Guard and H. Keith Lesnick, Director, Office of Deepwater Ports Licensing and Offshore Activities, U.S. Maritime Administration, the executives of Atlantic Sea Island Group were informed that, "In accordance with the Deepwater Port Act, Title 33, United States Code 1504(c)(1), we have completed our review of the Atlantic Sea Island Group LLC (ASIG) deepwater port license application to own, construct, and operate a liquefied natural gas deepwater port ... " Based on our review we have determined that the application appears to contain sufficient information to begin processing. This project will be known as Safe Harbor Energy."

The letter also requests additional information relating to the decommissioning of the LNG island after its useful life, notes that the Coast Guard will retain an environmental consultant to develop an environmental review document for the proposal and its intention to coordinate its actions with other federal and state agencies.

Howard Bovers, Chairman of the Atlantic Sea Island Group, LLC, stated, "We are delighted to have received this notification as it validates millions of dollars in environmental, engineering and market studies that we have invested in to date. Being deemed "complete" by the Coast Guard allows us to continue a process of public review, government oversight, market due diligence and environmental protection. It allows us to continue to present Safe Harbor Energy as a the strategic solution for a secure supply of natural gas to serve Long Island and the northeast for decades to come."

Mr. Bovers explained that central to this project is the recognition that Safe Harbor Energy's comprehensive environmental mitigation program must address issues that range from protecting fishing in the Atlantic to the potential visual impact of the harbor 13.5 miles offshore.

Safe Harbor Energy is designed with security, safety and environmental features a priority including meeting a 200-year storm design standard, self-sufficient systems for water supply, wastewater management, energy, fire and safety, and using "best available technology" consistent with the requirements of the Deepwater Port Act.

The Atlantic Sea Island Group, LLC is a consortium of private investors active in financing and development of energy and infrastructure projects. The senior management team has decades of experience in development of major energy and marine projects around the world.

Last Updated ( Monday, 20 August 2007 )