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.