A proposed $1 billion liquefied natural gas terminal along the St. Croix River near Calais is in jeopardy after the project's developers lost their financial backing from GS Power Holdings, LLC, a wholly-owned subsidiary of Goldman Sachs.
Lawyers from Calais LNG, the project's developers, sent a letter yesterday to the Maine Board of Environmental Protection asking that their scheduled hearing for this Friday be postponed. The letter explains that GS Power Holdings, LLC is trying to sell its stake to another financier and the developers expect the transaction will happen in the next three weeks.
However, if the new deal does....