Report slams Ambre, developer of coal terminals in Northwest

In the continuing war of words over development of coal export terminals in the Pacific Northwest, the Sightline Institute took a Feb. 13 shot at Ambre Energy, an Australian company that in the last couple of years has bought into the U.S. coal business and plans a pair of controversial coal export terminals in Washington and Oregon.

The Institute released a report that claims Ambre has “money woes” and therefore can’t follow through on its commitments. Ambre has countered such claims in the past by saying its finances are solid.

Alan Durning, executive director of the Sightline Institute, said in a Feb. 13 statement: “Ambre Energy is a very dicey proposition for investors. State and local governments and potential business partners should be aware of the severe financial risks the company carries.”

Founded in 1993, Sightline Institute provides original analysis of energy, environmental, and economic policy in the Pacific Northwest.

Ambre owns interests in the Black Butte coal strip mine in southwest Wyoming and the Decker coal strip mine in the Montana Powder River Basin, with a pending deal to buy the remaining share of Decker from Cloud Peak Energy (NYSE: CLD). It is developing the Millennium Bulk Terminals at Longview, Wash., and the Morrow Pacific project at the Port of Morrow and Port Westward in Oregon on the Columbia River. Ambre had posted no statements about the Sightline report to its website as of Feb. 14.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.