VI News Staff
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Governor Bryan on Vitol Matter: 'The Government Never Paid its Bill'WAPA Published On November 18, 2022 04:28 AM
Excerpts from an interview featuring Governor Albert Bryan during the administration's last Press Box for the year gave indications that the territory's leader may seek to arrange a payment plan to satisfy Vitol's hardline proposal of a $140 million buyout of its propane infrastructure within WAPA.
Propane tanks arrive at WAPA's Richmond Power Plant after spending hours at sea in Oct. 2014. By THE VIRGIN ISLANDS WATER AND POWER AUTHORITY.
Excerpts from an interview featuring Governor Albert Bryan during the administration's last Press Box for the year gave indications that the territory's leader may seek to arrange a payment plan to satisfy Vitol's hardline proposal of a $140 million buyout of its propane infrastructure within WAPA.
Vitol on Wednesday suspended propane supply to the U.S. Virgin Islands after WAPA refused the company's proposal of $140 million buyout of Vitol's propane infrastructure at WAPA facilities, which are needed by WAPA to power its plants.
WAPA and Vitol are in dispute over the amount of WAPA's capital lease obligation, or costs for the propane infrastructure. The authority pointed out in a statement that the capital lease obligation was the subject of a V.I. Inspector General audit, "which highlights several concerns and issues with the inception, execution, and cost of the project," WAPA said.
The total Infrastructure cost that WAPA owes, according to Vitol, is $150 million, $30 million of which is in penalties and fees. Vitol has proposed a $140 million buyout, which would see WAPA owning the infrastructure, according to Shanell Petersen, WAPA's director of corporate communications.
