SCT&E LNG Files for Export Authorization to Non-Free Trade Agreement Countries with the Department of Energy. Development Costs for the Project are Expected to be Over $9 Billion


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07/30/2014 [ACCESSWIRE]

 

LAGUNA BEACH, CA and CAMERON PARISH, LA / ACCESSWIRE / July 30, 2014 /  SCT&E LNG, a subsidiary of Southern California Telephone & Energy (SCT&E), submitted an application seeking long-term, multi-contract authorization to the Department of Energy (DOE) for exportation up to 12 million metric tons per annum (mtpa) of domestically produced Liquefied Natural Gas (LNG), or an equivalent 1.62 billion cubic feet per day (bcf/d) of natural gas, to countries that do not have Free Trade Agreements (FTAs) with the United States.

Earlier this month, SCT&E LNG filed an application with the DOE for exportation of 12 mtpa of liquefied natural gas to countries with Free Trade Agreements.  The request for exportation of 12 mtpa of LNG to non-FTA countries is non-additive, so the SCT&E LNG Terminal will export up to a total of 12 mtpa.  The requested authorization would, however, allow SCT&E LNG to export LNG to any nation that can or will be able to import LNG via oceangoing vessel and with which trade is not prohibited by U.S. law or policy.

The configuration and size of the SCT&E LNG site, which was acquired via an option with a 99 year lease, are ideal for a large-scale or mega LNG manufacturing and export facility.  The SCT&E LNG project site is located fewer than three miles inland from the Gulf of Mexico, making it an ideal location to export domestically produced LNG to FTA countries, such as Costa Rica and Mexico, as well as non-FTA countries, like Japan and China, through the Panama Canal.  Additionally, the Gulf Coast is an excellent location for exportation to European countries.  SCT&E LNG Chairman Greg Michaels said, "There is a lot of uncertainty from other countries providing natural gas globally.  SCT&E LNG looks forward to providing certainty to those countries that desperately need LNG to cleanly fuel and grow their economies."

About SCT&E:

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.

Safe Harbor:

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.

 

CONTACT:

Stephanie Moreau

Assistant to Greg Michaels

Southern California Telephone & Energy

951-693-1880

800-840-6673

smoreau@socaltelephone.com

www.scteglobal.com

www.sctelng.com

 

 

SOURCE:  SCT&E LNG, LLC

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