HOUSTON, TX and CAMERON PARISH, LA, United States, via ETELIGIS INC., 08/04/2015 – – SCT&E LNG, Inc. announced today that a state-owned utility company in the Asia Pacific region signed a non-binding Memorandum of Understanding (MOU) to purchase one (1) million tons per annum (mtpa) of liquefied natural gas from its future facilities to be constructed on Monkey Island in Cameron Parish, Louisiana. The state-owned utility company is one of the largest in the region and has significant plans to expand and develop natural gas power generation facilities to support its increasing energy demand.
Mr. Richard Ieyoub, former Attorney General for the State of Louisiana and member of the SCT&E LNG Board of Directors, states, “The signed MOU provides the state-owned utility company 20-year access to Henry Hub-indexed LNG. This agreement is expected to bring SCT&E LNG revenues in excess of $4 billion over the life of the agreement.”
The $9.4 billion LNG facility on Monkey Island will be capable of liquefying approximately twelve (12) mtpa of natural gas. SCT&E LNG is currently negotiating with additional offtakers/buyers and expects to sign subsequent LNG offtake MOUs in the second half of 2015.
Chairman and CEO, Greg Michaels, adds, “The SCT&E LNG project is targeting traditional and non-traditional LNG buyers who need LNG in 2021 and beyond. Signing this MOU validates our business strategy and the market’s desire for LNG in 2021 and the years that follow. This is a key milestone for our LNG project. The future of SCT&E LNG is bright.”
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 (bcf) 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, Inc.