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Freeport-McMoRan Prepared to Discuss Revenue Sharing With Blanco

Freeport-McMoRan may comply with Louisiana Gov. Kathleen Blanco’s demand to receive a portion of the revenue generated from the operation of its Main Pass LNG terminal proposed for offshore Louisiana, according to William Collier, the company’s spokesper
July 26, 2006

Freeport-McMoRan may comply with Louisiana Gov. Kathleen Blanco’s demand to receive a portion of the revenue generated from the operation of its Main Pass LNG terminal proposed for offshore Louisiana, according to William Collier, the company’s spokesperson. “We’re prepared to pay reasonable fees provided by the [Deepwater Port] act, but we haven’t had detailed discussions with the state about any appropriate level of fees,” Collier said. Blanco made the revenue-sharing request in May when she vetoed the proposal because of its open-loop design. Since then, Freeport-McMoRan has modified the project to include closed-loop technology. The Baton Rouge Advocate has the story.

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