Friday, March 23, 2018

Fuel Project Lease Ended

By Karen Robes Meeks

The Port of Vancouver USA and Vancouver Energy have ended their Terminal 5 lease early, weeks following Gov. Jay Inslee’s January rejection of the project.

Vancouver Energy, whose proposed project involved bringing up 360,000 barrels per day of North American crude oil by rail to the port for ships bound for Alaska, California and Washington refineries, chose to terminate the lease a month early and give its March lease payment to nonprofits.

“This agreement with the port to end our lease a month early makes it possible for Vancouver Energy to contribute the March lease payment amount of $100,000 to support worthwhile community causes through our donor-advised fund in partnership with the Community Foundation for Southwest Washington,” said Jared Larrabee, Vancouver Energy general manager. “While the outcome of our project isn’t what we had hoped, we have worked closely with the Port of Vancouver USA for more than four years and appreciate the opportunity to conclude this effort on a positive note and in a way that benefits the community.”

Port CEO Julianna Marler said the port appreciates the generosity of Vancouver Energy and their approach to this process.

“Vancouver Energy and Jared have been very strong partners,” she said. “The (Energy Facility Site Evaluation Council) process took a lot longer than we anticipated. We worked very well together and came up with some creative solutions, and I just want to express my appreciation for their partnership and hard work.”