2015 signing of two offtake MOU’s brings total agreements to 2.7 mtpa for planned Louisiana LNG export facility
A Houston-based LNG export company says it has sold 1.0 million tons per annum to an Asian utility, bringing the total of three recent sales for its future facilities to be constructed on Monkey Island in Cameron Parish, LA to 2.7 mtpa.
SCT&E LNG, Inc. – originally established by Southern California Telephone Company – says the multi-billion dollar agreement was signed with one of Asia’s largest utility/power generation companies.
The agreement also allows for a future equity investment into the SCT&E LNG liquefaction terminal, the company announced in a press release.
“SCT&E LNG has pursued this investment grade offtaker for a significant period of time and has competed against other liquefaction projects globally for the business,” said CEO Greg Michaels.
“Our commitment to a proven business model, which includes our selection of the world’s #1 liquefaction technology and a competitive EPC bid contracting strategy, resonates with the LNG offtake community. In addition, the outstanding location of this infrastructure project is a huge factor for offtakers when deciding who will produce LNG most efficiently from the United States.”
Last year, SCT&E LNG announced the signing of two offtake MOU’s.
“Over the last several months, SCT&E LNG has made a number of bankable business decisions. We have selected our LNG licensed technology, kicked off additional engineering, and finalized our LNG liquefaction train sizes,” said Eric Smith, executive director of business development.
“Our sales and marketing strategy has garnered the attention of the world’s most experienced LNG buyers.” SCT&E LNG is in discussions with a number of offtakers globally and expects to announce more contracts soon.