The company withdrew its plans for a $6 billion liquefied natural gas terminal and pipeline project at the mouth of the Columbia River after backers backed out.
The company’s move ends a decade of acrimony over a liquefied natural gas project that galvanized residents to protect the Columbia River and caused political upheaval in Clatsop County.
Mayor Mark Kujala said he was told by a company representative that Leucadia National Corp., the New York-based holding company behind the project, was no longer willing to bankroll the effort.
(READ MORE: The Daily Astorian)
Last month, the Federal Energy Regulatory Commission nixed plans for the Jordan Cove Energy Project — a liquefied natural gas export terminal based in Coos Bay.
In related news, the Port of Vancouver annnounced Friday that it would extend the lease with Vancouver Energy for oil terminal developers for eight months until March 31, 2017.