Targa Sound Terminal, which since early this year had been studying
the idea of building a $150 million bulk liquids distribution facility at the
Port of Tacoma, has now abandoned the plan, saying the project is not
economically viable.
In a formal notification letter, TST told the port Sept. 6 that
after seven months of studies, it does not intend to proceed with building the planned
tank farm, which would have sat on a former smelter site and imported crude oil
from North Dakota and elsewhere.
“We used the feasibility period to thoroughly evaluate the
option of leasing the property and expanding our operations,” the letter, which
is signed by TST President Troy Goodman, reads in part. “In spite of the
tremendous support we received and our best efforts, we regret that we have
been unable to identify an economical path forward for our project.”
The decision is a blow to the port, which had already begun
putting the infrastructure in place for a terminal. Earlier this year, Tacoma
began an environmental cleanup of the 96-acre site, including removing dozens
of old buildings, while salvaging and recycling more than a million pounds of
metals from the structures.
The port had also started building construction tracks to
serve the terminal and other facilities along the Blair Waterway.
TST has indicated it plans to continue operating an existing
terminal along the Tideflats’ Hylebos Waterway, which handles petroleum,
petroleum products and renewable fuels.
