HOUSTON, TX, United States, via ETELIGIS INC., 05/21/2015 – – On May 19, 2015, SCT&E LNG signed a Memorandum of Understanding (MOU) with a sizable U.S. upstream natural gas supplier for its world-scale liquefied natural gas (LNG) project on Monkey Island, Cameron Parish, Louisiana. The agreement provides enough natural gas to enable the company to produce 4 million tons per annum (mtpa) of LNG. The agreement represents one third of the gas needed for the entire project (12 mtpa) with terms that allow for additional supply.
SCT&E LNG currently has approval from the Department of Energy to export 12 mtpa to countries with whom the U.S. has a Free Trade Agreement. Greg Michaels, Chairman and CEO of SCT&E LNG, states, “During our recent 45-day trip to Asia and South America meeting with potential investors and offtakers, we received extremely positive feedback on the potential for a long-term fixed-price natural gas supply. A number of prospective customers consider our offering as a hedge against future unknown gas prices. The MOU provides our customers with a fixed-price commercial structure they can bank on to build their economies and deploy 20-plus year assets with measureable and predictable results. This agreement represents another significant milestone in our project.”
The SCT&E LNG business model seeks to export LNG via take-or-pay tolling arrangements with its customers. Mr. Michaels continues, “Our business model has been designed to provide our shareholders with the potential for maximum return while limiting exposure on their investment. To date, all project activities have been self-financed, which include a signed long-term lease option for our project site, multiple project feasibility studies, key staff hires, the opening of our corporate headquarters in Houston, Texas, and the secured feedstock for 4 mtpa of our authorized 12 mtpa project. To be at this stage of a $9 plus billion dollar project with zero debt is something our team is very proud of.”
About SCT&E LNG:
Originally established by Southern California Telephone Company, doing business as Southern California Telephone & Energy (SCT&E), SCT&E LNG, INC. is a Nevada Corporation and a developer of an LNG export terminal. The SCT&E LNG project is currently modeled as an LNG tolling facility utilizing cryogenic technologies to liquefy natural gas for the exportation of natural gas globally. The SCT&E LNG plan is to liquefy approximately 1.62 billion cubic feet per day of natural gas to create approximately 12 million tons per annum of LNG at its future facilities on Monkey Island, Cameron Parish, Louisiana.
Southern California Telephone Company, today SCT&E, is a successful twenty-year, privately owned United States Public Utility Company. The company was originally founded in 1994 as Wholesale Airtime, Inc. by CEO Greg Michaels. SCT&E is a telecommunications and energy company. SCT&E owns and operates a redundant telecommunications network and maintains facilities on both coasts of the United States. SCT&E holds a U.S. Federal Energy Regulatory Commission (FERC) Authority allowing it to buy and sell energy nationwide. SCT&E LNG has multiple locations, with its corporate office headquartered in Temecula California.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to certain risks, uncertainties, and assumptions that include expected earnings, future growth and financial performance, and typically can be identified by the use of words such as “expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe”, “optimistic,” “intend,” “will,” and similar terms. Although SCT&E LNG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially from those anticipated in these forward-looking statements. A variety of factors that could cause actual results to differ materially from those contemplated above include, among others, general economic conditions, hazards customary in the oil, gas and LNG industries, weather conditions, competition and developments in oil, gas and LNG markets beyond the Company’s control, the volatility of energy and fuel prices, failure of customers to perform under contracts, changes in the oil, gas and LNG markets, changes in government regulations of markets and of environmental emissions, the condition of capital markets generally, securitization of sufficient capital or a strategic business arrangement to fund its plan of operation, the Company’s ability to access capital markets, management resources and infrastructure necessary to support the growth of its business, unanticipated facilities outages, adverse results in current and future litigation, failure to identify or successfully implement acquisitions (including receipt of third party consents and regulatory approvals), failure to acquire or transact on off-take agreements, and other risk factors related to the liquefied natural gas and related and connected business.
All forward-looking statements attributable to SCT&E LNG or persons acting on its behalf are expressly qualified in their entirety by these factors. SCT&E LNG undertakes no obligation to update or revise any forward-looking statements, other than as required under applicable securities laws, whether as a result of new information, future events or otherwise. The foregoing factors could cause SCT&E LNG’s actual results to differ materially from those contemplated in the forward-looking statements included in this news release and should be considered in connection with information regarding risks and uncertainties that may affect SCT&E LNG’s future results.
Lisa Musick, Public Relations
SCT&E LNG, INC.
15021 Katy Freeway, Suite 210
Houston, Texas 77094
SOURCE: SCT&E LNG