January 5, 2021 Read More →

Time running out for Wyoming coal port in wake of bankruptcy ruling

Wyoming Public Media:

A long sought after terminal to ship coal internationally from Washington may soon no longer be in the cards. A federal bankruptcy court has authorized the rejection of the ground lease between the Millennium Bulk Terminals-Longview, LLC and Lighthouse Resources Inc, effective this Friday, Jan. 8.

Lighthouse, owner of the Millennium Facility via a debtor, has sought to ship coal off the Washington coast for years; Millennium submitted permit applications back in 2012. The western state, though, never permitted the project and it’s since been held up in court. Wyoming is currently involved in litigation hoping to bring the port to fruition. 

Clark Williams-Derry, an energy finance analyst with the Institute for Energy Economics and Financial Analysis, a renewable energy think-tank, said the move could be a way for Lighthouse to put pressure on a behind-the-scenes buyer. Alternatively, he said it could just be the last option.

“Only an unusual last minute maneuver is likely to save the port,” said Williams-Derry.

[Cooper McKim]

More: Coveted Port For Wyoming Coal On Last Legs With Authorized Lease Rejection

Posted in: IEEFA In the News

Comments are closed.