The Northeast Gateway Deepwater Port, located 13 miles south of Gloucester, Massachusetts, opened in 2008 when natural gas prices were high, The Boston Globe reported. Though it was a $350 million investment, it was then shut down in 2010 as natural gas prices fell and the use of the facility was no longer economically beneficial to Excelerate. However, the company did not entirely decommission the facility.
If market conditions improve, Excelerate may begin to use the port more often.
"Excelerate Energy would make more deliveries if market conditions are favorable," said Excelerate Director of Communications Denise Madera, in an email to the Gloucester Times. "We maintain [it] in a state of readiness so that deliveries can be made if market conditions warrant."
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