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Florida's Only LNG Plant Is Scrapped as Shale Boom Sinks Demand

  • U.S. now poised to be a net natural gas exporter by 2017
  • Company cites `catastrophic changes' in market for decision

A proposed liquefied natural gas import project in Florida has become a casualty of a boom in domestic production that is poised to see the U.S. become an exporter of the power plant fuel by 2017.

Port Dolphin Energy LLC is abandoning plans for a 1,200 million cubic feet a day port in Manatee County and has asked the Federal Energy Regulatory Commission to vacate its permits, according to a filing with the agency on Friday. The LNG plant, designed to serve Florida’s Gulf Coast, was scrapped for a lack of buyers and “catastrophic changes” in market fundamentals, the company said.