The US Department of Transportation's Maritime Administration (MARAD) has approved Neptune LNG's request to suspend port operations at its LNG regasification terminal offshore Gloucester (Massachusetts) for 5 years. Neptune LNG is a 3 Mt/year import terminal developed by GDF SUEZ and commissioned in 2010. It has remained inactive over the past several years and will likely remain inactive for the foreseeable future due to booming unconventional gas reserves in the United States. Conditions and obligations of the license will remain current and in effect during the suspension period. The five-year suspension period will become effective on the date of the final executed amendment. If Neptune wants to resume operations before the end of the suspension, it must petition the administration for approval. The petition must be submitted at least six months prior to the proposed start date. If Neptune wants to extend the suspension period, the request must be submitted at least 180 days before to the end of the suspension period.
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