HOUSTON, TX, United States, via ETELIGIS INC., 05/06/2015 – – SCT&E LNG executives have just returned from a successful 45-day trip to Latin American and Asia for meetings with government officials, potential off-takers, and investors regarding the development of the SCT&E LNG $9.2 billion Liquefied Natural Gas (LNG) Export Terminal in Southwest Louisiana. Mr. Greg Michaels, Chairman and CEO of SCT&E LNG said, “Countries like Japan and South Korea have been attractive to U.S. LNG developers. However, global demand for LNG continues to grow, particularly in Southeast Asia and Latin America. Countries like China and others globally have a tremendous increasing demand for LNG.” Most nations seek LNG for environmental benefits, fuel diversification, and efficiencies.
China is the largest energy consumer in the world. It currently burns approximately 50% of the world’s coal. Because China has instituted aggressive climate change policies to reduce their C02 emissions, they are turning to LNG as a fuel source to fulfill their energy demands and diversify their energy portfolio. These policies will double their demand for natural gas in the next five years and their long-term LNG demand is expected to make China the second largest LNG importer by 2025. Mr. Michaels notes, “There are currently no announced off-take transactions between major U.S. LNG developers and China. SCT&E LNG intends on changing that!”
In November 2014, President Barack Obama and President Xi Jinping of China pledged to reduce their respective country’s greenhouse gases and implement long-term plans to use cleaner fuel sources. China is working to improve its air quality and has announced the closing of coal-fired power plants and has plans to use natural gas in lieu of coal. Mr. Michaels explains, “Natural gas is twice as clean as coal. China is a perfect off-take match for our development as its LNG expansion plans come online at the same time our project will produce its first LNG exports.”
SCT&E LNG was a sponsor at the 1st China LNG Expo held in Shanghai, China on March 18th-20th. Mr. Michaels was a speaker and panelist at the event. Mr. Michaels said, “The turn out for the LNG Expo was impressive. The overwhelming positive response to the Monkey Island project extended our trip and resulted in a number of key meetings with potential investors and off-takers.”
While on the Asian tour, SCT&E LNG sponsored the China LNG International Summit held in the Chaoyang District, Beijing, China on April 23rd-25th. Mr. Michaels gave a special keynote address at the Summit discussing the importance of integrating U.S. LNG Exports in China’s energy matrix. Mr. Michaels took the opportunity to promote the SCT&E LNG Monkey Island Project to the international audience, which included Asian off-takers, international investors, and hundreds of gas professionals from around the world.
The SCT&E LNG delegation at both China events included new SCT&E LNG Executive Director of Business Development, Eric Smith. Mr. Smith formerly worked for AMEC Foster Wheeler in their LNG development division. “Eric is a strong addition to the team; he brings additional experience and passion to SCT&E LNG,” states Chairman Greg Michaels. After the LNG Summit in Beijing, Mr. Smith accepted invitations outside of China from both government officials and private sector representatives interested in potential off-take and/or investment in the Monkey Island Project.
At both the China LNG Expo and the Beijing LNG summit, the SCT&E LNG team focused their discussions on the synergies between China’s energy needs and how U.S. LNG can fulfill the demand China and others in the region have in order to meet their energy needs with a clean fuel source. Overall, the market’s continued response to the SCT&E LNG project has been extremely positive. SCT&E LNG is currently in negotiations with off-takers and investors in both Latin America and Asia.
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, INC