SCT&E LNG, a subsidiary of Southern California Telephone & Energy (SCT&E), submitted a revised Free Trade Application (FTA) to the Department of Energy (DOE). The revised application increased the original export request for four (4) mtpa of domestically produced LNG to twelve (12) mtpa, which is approximately 1.6 billion cubic feet of domestically produced LNG per day. The decision to modify the application resulted because of the extremely favorable response from a number of off-takers after the original May 2014 submission to the DOE to export four (4) mtpa. The revised application will increase the projected development costs from $2.4 billion to over $9 billion. The project is scheduled to be developed in three phases with the development of two trains per phase. Each train will produce two (2) mtpa of LNG, with six trains totaling twelve (12) mtpa of domestically produced LNG.
The SCT&E LNG project site on Monkey Island is ideally positioned on 246 acres in Cameron Parish, Louisiana. The site is geographically located near the heart of one of the most robust natural gas transportation networks in North America and within 42 miles of five major interstate pipelines that serve nearly two-thirds of all U.S. natural gas markets. The SCT&E LNG site is also located only 6 miles from the Henry Hub pipeline and is fewer than three miles inland from the Gulf of Mexico. The future SCT&E LNG Manufacturing and Export Terminal has deep-water frontage access on the Calcasieu Ship Channel and additional marine access on the Cameron Loop along Monkey Island’s northern bank. SCT&E LNG has secured its Monkey Island project site through a lease option agreement and a 99-year lease.
SCT&E LNG has strategically chosen Louisiana as home for its future LNG Manufacturing and Export terminal because of the state’s recent reforms to create an atmosphere that Forbes magazine calls "America's new frontier for business opportunity.” Greg Michaels, Chairman and CEO of SCT&E LNG, states, “The people of Louisiana and the business environment created by the State of Louisiana make the decision to increase the LNG production from four (4) mtpa to twelve (12) mtpa an easy choice.” Mr. Michaels continues, “with the support of the great people of Cameron Parish, the support of the state of Louisiana, and the global demand for LNG at an all-time high, increasing the size of the SCT&E LNG export facility is a sound business decision.” SCT&E LNG is in the process of interviewing LNG industry experts for assistance during the NEPA, FERC and FEED processes.
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 & Energy