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Vancouver Oil Terminal Lease Would Allow Exports

The Port of Vancouver has released copies of the lease agreement Port commissioners approved last week for a controversial oil terminal. The document wasn’t available to the public until today.

The lease does not restrict the terminal developers from exporting oil overseas, according to port communications specialist Katie Odem.

Tesoro Corporation and Savage Companies plan to build an oil terminal that would move crude oil produced in North Dakota from trains to ships bound for West Coast refineries.

But opponents of the project say they’re worried the terminal could end up exporting crude oil from Canada.

Matt Gill, external affairs manager for Tesoro, said U.S. regulations prevent North Dakota crude oil from being exported overseas, but the company isn’t ruling out the potential for exporting oil produced elsewhere.

“We can’t say what’s going to happen in the future, where the markets are going to go,” he said. “There’s possibilities out there.”

The Port redacted some figures in the lease for proprietary reasons, including deadlines for beginning construction and operation of the facility.

Read the full lease agreement below:

Tesoro Savage Lease 07232013

Vancouver oil terminal

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