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Washington State port nixes LPG export terminal, refinery proposal
HOUSTON, February 24, 2016 (PCW) –- The port of Longview in Washington State late Tuesday has ceased discussions with a company proposing to build an LPG export terminal and refinery at the location.
The port’s board of commissioners said its decision was “based on the proponent’s failure to demonstrate the … project’s financial wherewithal, plain and simple.” The board said the company had missed a given deadline to provide it with financial information. “The information provided post-deadline was heavily redacted and failed to communicate financial support of the project,” the board said.
Waterside Energy, the company that had proposed the project, was planning a 45,000 b/d refinery and a 75,000 b/d export facility with a total budget of $1.25 billion. – Samantha Hartke