Local USVI News

$45 Million Earmarked for Vitol Payment from Potential $150 Million Line of Credit, According to Governor Bryan

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If legislators approve Governor Albert Bryan Jr.’s request to establish a $150 million line of credit for the U.S. Virgin Islands, $45 million will be allocated to Vitol as a partial payment towards the debt owed by the Water and Power Authority (WAPA) to the propane supplier. Vitol had suspended propane shipments to the territory late last year due to the debt dispute, forcing WAPA to find alternative fuel suppliers before the 2022 holiday season.

During a recent WAPA Governing Board meeting, Executive Director Andrew Smith announced that WAPA and Vitol had reached an agreement regarding the buyout of Vitol-built propane infrastructure, which is vital to WAPA’s operations. However, the total amounts and details of the agreement were not disclosed during the open session, and the public remains uninformed about the specifics.

On Tuesday, Governor Bryan’s announcement labeled the buyout agreement details as “confidential.” The Senate is scheduled to meet in a special session on Wednesday to discuss the Governor’s request for the credit facility. In addition to supporting WAPA in acquiring its propane infrastructure, the line of credit would be used to meet local matching requirements for federal grant funding awards and to support the general business operations of the Government of the Virgin Islands.

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