Port Cameron officials seek space to cut costs
Oil and gas companies have seen their share of hard times over the last few years, thanks to a continued trend of falling oil prices. Those companies are working hard just to stay afloat, instead of investing more dollars.
Port Cameron is seeking to make sure those companies can drive down their costs and, more importantly, get people in the industry back to work. This week, the company took a major step forward in making that a reality.
Port officials signed a letter of intent Wednesday with Peterson Offshore Group to lease 1.2 million square feet of rental space at the port’s logistics center. Ted Falgout, the port’s executive director, said the logistics center could cut related costs by up to 40 percent.
Cutting costs by that much would allow oil and gas companies to use the product at a cheaper rate, something that has been needed for some time. Plus, the Gulf area needs to share its energy assets to drive down logistical costs.
Port Cameron — a proposed $1.5 billion deep-water port — is a massive project for the parish. It will be built on 500 acres of property along the Calcasieu Ship Channel, and there is an option to build on 750 additional acres.
The projected economic benefits are outstanding, with Falgout saying the port could create tens of thousands of jobs statewide.
The port in February signed a partnership with Peterson for the Netherlands-based company to act as the port’s logistics consultant. Peterson and Community Development Financial Services Group of America LLC — a Louisiana-based private company — will co-manage the port.
Cameron Parish officials, and its residents, also have reason to celebrate this agreement. A project of this magnitude could significantly boost the economy and bring people back to Cameron.
After being ravaged by two major hurricanes over the last 12 years, some longtime residents left and haven’t returned. Port Cameron, and its partnership with Peterson, could be another step forward in helping Cameron recover and return to its former glory.