SCT&E LNG Chairman Greg Michaels and his executive team met with the Cameron Parish Police Jury in its monthly public meeting. SCT&E LNG, a subsidiary of Southern California Telephone & Energy (SCT&E), was scheduled on the Police Jury Docket to formally announce their twelve million metric tons per annum (12 mtpa) Liquefaction Project on Monkey Island. The SCT&E executive team was pleasantly surprised when they heard the announcement firsthand from the Cameron Parish Police Jury of its decision to fund $150,000 for a feasibility study to determine the construction of one or more bridges across the Cameron Loop, linking Monkey Island once again with the Cameron Parish mainland. "The announcement of the funding of the feasibility study in the presence of the SCT&E LNG executive team was meant as a show of support for the SCT&E LNG Liquefaction Project," says Stephen Broussard, Director of the West Cameron Port Commission.
The construction of the bridge will support the development of the SCT&E LNG project site. The SCT&E LNG Liquefaction Project is expected to bring several thousand jobs during the construction of the project and at least 200 permanent jobs to Cameron, Louisiana. Chairman Greg Michaels announced in the meeting that the company had plans to amend its original application with the Department of Energy from 4 mtpa to 12 mtpa and that the project will be completed over three phases. The original estimated cost to develop Phase I of the LNG Manufacturing and Export Terminal, or the 4 mtpa, is approximately $2.4 billion. Michaels said that "Meeting the warm people of Cameron, Louisiana, again just reaffirms our decision that Monkey Island is an outstanding home for our LNG project and that if the world had more people like those in Cameron, the world would be a much better place!"
Pictured on the left is Greg Michaels, Chairman of SCT&E LNG, Local Cameron officials, Cameron Police Jury and SCT&E Executive.
Southern California Telephone Company, dba Southern California Telephone & Energy, is a spin-off of Wholesale Airtime, Inc. established in 1994 by Founder and CEO, Greg Michaels. In simple terms, SCT&E is a vertically integrated Telephone and Energy Company, offering Voice, Data, Wi-Fi, Internet Telephony Services, Cable and Legacy Telephone Services. The company also provides renewable energy and energy efficiency solutions, thus blending the world of utility mediums.
Subsequent to the 1996 deregulation of the telecom industry in the United States, SCT&E took advantage of the opportunity to become a privately held, facility-based Competitive Local Exchange Carrier (CLEC) and Public Utility. SCT&E built, owns and operates one of the largest privately-held, fixed wireless, or Wi-Max, networks in California. The company has multiple locations, with its corporate office located in Temecula, California. SCT&E owns and operates a redundant telecommunications network with facilities on both coasts of the United States.
SCT&E is a California Electric Service Provider (ESP) and has a U.S. Federal Energy Regulatory Commission (FERC) Authority allowing the company to buy and sell energy nationwide in both the wholesale and retail markets. Additionally, SCT&E is involved in international energy generation and oil and gas projects.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks, uncertainties and assumptions 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" and similar terms. Although SCT&E 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. Factors that could cause actual results to differ materially from those contemplated above include, among others, general economic conditions, hazards customary in the power industry, weather conditions, competition in wholesale power markets, the volatility of energy and fuel prices, failure of customers to perform under contracts, changes in the wholesale power markets, changes in government regulation of markets and of environmental emissions, the condition of capital markets generally, our ability to access capital markets, 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).
SCT&E undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing review of factors that could cause SCT&E actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect SCT&E's future results.
Assistant to Greg Michaels
Southern California Telephone & Energy
SOURCE: Southern California Telephone Company