The company attempting to build a liquefied natural gas terminal in Calais is asking the Maine Board of Environmental Protection for another month to find a new investor.
A lawyer representing Calais LNG sent a letter to the board Tuesday saying it needed until Sept. 11 to line up a financial backer. Last month, the company abruptly pulled out of a long-planned hearing on its permit application for the project. A week later, the company said its lead investor, GS Power Holdings LLC, was selling its share and looking for another investor. Calais LNG asked the board to give it until Aug. 11, and the board agreed.
Now the company says it is engaged in talks with potential financial partners and needs more time.
Opponents counter that Calais LNG doesn't deserve an extension.
In a response to the board, the Conservation Law Foundation pointed out that Calais LNG had set the Aug. 11 deadline, and appears to lack the financial capacity to continue with the project.
The Roosevelt Campobello International Park Commission said this is Calais LNG's third attempt at an extension, an indication that the company doesn't have the funding to carry out the project and should withdraw its application.
A board spokesman said no decision would be made Tuesday.
Copyright (c) 2010, Portland Press Herald, Maine. Distributed by McClatchy-Tribune Information Services.