Volume 8, No. 3
Business Kelso Longview
March 2016
Connection Chamber of Commerce
Commission passes on proposed projects
Port remains open to energy projects with sound finaincial support
At its recent meeting, the Port of Longview Board of Commissioners directed the Port’s Interim CEO Norm Krehbiel to discontinue all discussions with Waterside Energy LLC, related to its proposals of both Riverside Refining LLC, (the oil refinery) and Washington Energy Storage and Transfer LLC, which is also known as WEST (the liquid petroleum gas facility).
WEST project’s financial wherewithal, plain and simple.”
For several months, the Port has worked with the project proponent Lou Soumas to negotiate a non-binding term sheet on the WEST project, outlining key project information and financial documentation needed to move negotiations forward in a timely fashion.
“This isn’t about fossil fuels, I want to make that clear,” said Commissioner Doug Averett. “The Port of Longview is open for business and all project proposals will be evaluated on their individual merits, not the commodity.”
“We have a fiduciary responsibility to ensure project proposals are viable,” said Commission President Bob Bagaason. “This decision is based on the proponent’s failure to demonstrate the
In this instance, the proponent missed the deadline to supply financial information and the information provided post-deadline was heavily redacted and failed to communicate financial support of the project.
*Documents related to the Commission action can be found at http://www.portoflongview.com/AboutThePort/ProjectsProposals/WatersideEnergy.aspx