Vancouver Energy is a joint venture of Tesoro Corp. and Savage Companies. Tesoro – a port tenant since 1985 – and Savage have proposed leasing 42 acres at the port for a crude oil distribution facility that would include a rail unloading facility, storage tanks, and a vessel loading area. The project would bring up to 360,000 barrels of North American crude oil by rail to the port daily, where it would then be loaded into U.S.-built, U.S.-flagged, and U.S.-staffed marine vessels for shipment to refineries in Alaska, California and Washington.
Tesoro-Savage has agreed to a 10-year lease, anticipates making $210 million in capital improvements, and expects to create 175 permanent jobs on site, with 1,000 jobs total as an effect of the project.
The project is subject to approval by the Washington state Energy Facility Site Evaluation Council (EFSEC) and Gov. Inslee.
Vancouver Energy’s proposed facility (highlighted in blue) consists of a covered transload area on the railroad tracks at Terminal 5, six storage tanks to the east and a loading area at two of the port’s cargo berths. Pipelines will move crude oil from the transload area to the tanks and on to the berths, where the oil will be loaded into U.S.-built, U.S.-flagged, and U.S.-staffed marine vessels for shipment to refineries in Alaska, California and Washington.