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Rail News: Intermodal

Vancouver Energy ends lease early at Port of Vancouver

Vancouver Energy had proposed constructing and operating a crude-oil terminal at the port.
Photo – Port of Vancouver

Vancouver Energy and the Port of Vancouver USA in Washington announced this week they've agreed to end their lease agreement a month early.

Vancouver Energy said it agreed to end its lease for space at the port and would donate its $100,000 payment for March to local charities, according to a company press release.

The donation will be made to support Southwest Washington nonprofits through the Vancouver Energy Community Fund.

The end of the lease agreement follows Washington Gov. Jay Inslee's decision in January to approve a state board's recommendation denying a permit that would have allowed the company to build and operate a proposed crude-oil terminal at the port.

"While we're pleased to continue making a positive difference for Vancouver and Southwest Washington through this additional funding for community projects, it's disappointing we won't be able to provide the needed family-wage jobs and economic boost for the area that we had envisioned," said Vancouver Energy General Manager Jared Larrabee. "We remain convinced that our proposed terminal at the Port of Vancouver USA would have been built and operated safely, and provided immense value to the West Coast and regional economy."

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More News from 3/2/2018