Lake Charles port OKs pact with Clean Energy

The Port of Lake Charles board has approved an operating agreement with Lake Charles Clean Energy for the handling and storage of methanol, a major step in moving the $2.6 billion project forward.

Port officials said the submission will allow the product to be exported, about 1 million tons per year. The port already received a 25-year operating contract with Lake Charles Clean Energy, a subsidiary of Leucadia.

Port Director Bill Rase said this is the largest project in the works at the port and will help create long-term sustainability for years to come.

The company has spent more than $50 million in site preparation, mainly for drainage and electricity.