DredgeWire16 Jul 2026Clients
Automatically composed with AI from the cited sources
Power LNG gained the Galveston Wharves Board’s approval of basic lease terms on July 15 for a 30-acre site on Pelican Island, where it plans a $250 million facility that would initially produce 400,000 gallons of LNG per day, expandable to 800,000 gallons, with first production targeted for December 2028. The preliminary lease would cost $300,000 and run from around September or October until December 2028, followed by a 30-year lease at $750,000 per year if output stays at or below 400,000 gallons per day, or $1.2 million if higher, escalating annually at the lesser of 3% or the regional inflation rate, with two 10-year renewal options and additional throughput fees to the port.