Lease Finalized for Port Westward LNG Plan
Posted on Mar 20, 2006 in Regas Terminals & Capacity, State and Local Issues | Comments Off on Lease Finalized for Port Westward LNG Plan
The Associated Press reported on Saturday that the Port of St. Helens has finalized a lease agreement that gives the port control over a parcel of land that might be used for Port Westward LNG’s proposed terminal. Details of the lease include a six-month, pre-option period during which the Port can seek other potential lessees for the land, followed by a $200,000 four-year option period and the possibility of a second four-year option period. After the option period, the lease itself will be 99 years at a cost of $500,000 per year. The complete AP article is carried via The Register-Guard.