Port approves lease amendment to extend ProMan’s Big Lake Fuels project timeline, citing Mitsubishi partnership

The Port of Lake Charles Board on Dec. 18 approved a lease amendment that gives ProMan/Big Lake Fuels more flexibility to develop a proposed blue‑ammonia and methanol complex at the port. The board recorded one opposing vote but approved the measure.

The amendment extends ProMan’s deadline to reach a final investment decision from December 2024 to Dec. 31, 2026, authorizes assignment of the ground lease from Big Lake Fuels to ProMan USA and replaces a fixed portion of additional rent with a variable, product‑based rent tied to throughput and the number of projects operating on site. Staff said the changes are intended to support multiple, co‑located projects and increase future rent revenue for the port.

At the board meeting, Steven Dallas of ProMan described a new blue‑ammonia proposal in partnership with Mitsubishi that would include carbon‑capture infrastructure and shared facilities with the company’s methanol project. Dallas said ProMan has signed a memorandum of understanding with Mitsubishi and is preparing pre‑FEED, geotechnical and environmental surveys, with certain work to start in January. He warned that the timeline depends on the outcome of Japan’s contract‑for‑difference auction for co‑firing fuel, and that results could delay development into 2026.

Board discussion was limited prior to a motion to adopt the amendment. The motion was made by Mister Bales and seconded by Mister Crater. The board chair called the question and the board approved the amendment with one member recorded in opposition; transcript audio does not specify vote counts or the name of the dissenting member.

The amendment’s key terms cited by ProMan are (1) converting part of fixed rent to variable rent based on product and throughput, (2) extending Milestones to reach FID to 2026, and (3) assignment from Big Lake Fuels to ProMan USA to consolidate project oversight. ProMan said shared infrastructure and carbon‑capture pipelines should reduce costs for future projects and make the site more attractive for customers.

The board did not detail additional conditions or follow‑up reporting requirements during the meeting. ProMan said it expects to continue site planning and survey work and to return with further milestones as the project progresses.