Louisiana Port Developers Acquire Site
Tallgrass Energy, LP reported Tuesday that it has acquired a 600-plus-acre site to build its planned Plaquemines Liquids Terminal (PLT) along the Mississippi River south of New Orleans.
“We are committed to being a good neighbor, and we demonstrated that with this land transaction that represents a win for all parties,” Tallgrass Chief Operating Officer Bill Moler said in a written statement announcing the $30 million acquisition.
Tallgrass stated that it acquired the land in an agreement with the Plaquemines Port & Harbor Terminal District (PPHTD) and that PLT and the port authority will work jointly to permit and construct the terminal. Tallgrass, Drexel Hamilton Infrastructure Partners, LP and PPHTD – a Louisiana state agency – are developing PLT as a public-private partnership.
PLT will offer up to 20 million barrels of storage for both crude oil and refined products and export facilities capable of loading Suezmax and very large crude carrier (VLCC) vessels for international shipments, Tallgrass stated.
According to Tallgrass, the transaction also:
- Grants PPHTD a 50-acre tract that will provide a conservation easement adjacent to the community of Ironton, La.
- Makes an additional portion of the site available for Louisiana’s Mid-Barataria Sediment Diversion coastal restoration project
“The community of Ironton benefits from a conservation easement that will provide a buffer between Ironton and any future development,” said Moler. “(T)he state of Louisiana has the ability to obtain the property needed for the Mid-Barataria Sediment Diversion Project … and PLT procures the land needed for the proposed terminal and docking facility.”
“Our board was quick to offer support to PLT because it is consistent with the Plaquemine Port’s vision to attract and enable projects that contribute to the economic well-being of Plaquemines Parish,” noted Plaquemines Port Executive Director Sandy Sanders. “We’re excited that the project will bring much-needed jobs to the parish and the state.”
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