Port Manatee Signs $30 Million Deal for Pipeline Associated with Port Dolphin LNG Project
Posted on Mar 19, 2010 in Regas Terminals & Capacity | Comments Off on Port Manatee Signs $30 Million Deal for Pipeline Associated with Port Dolphin LNG Project
Port Dolphin Energy and the Manatee Port Authority agreed to a $30 million contract where Port Dolphin will lease approximately 35 acres of Port Manatee’s property and obtain a right of way for a pipeline associated with the planned LNG deepwater port. Under the terms of the agreement, as reported by the Bradenton Herald, Port Dolphin will pay the port authority $425,000 as a down payment within five days of concluding the contract, $375,000 more by September 30, 2010, and another $1.2 million when final permits are issued for the project. If Port Dolphin exercises its option to construct the LNG deepwater port and pipeline, the port authority will receive $30 million over the life of the contract.