SCT&E LNG Advances its World-Scale LNG Project and has Engaged an Important Subcontractor to Develop Marine Studies to Support the Federal Energy Regulatory Commission Pre-Filing Process
ACCESS Newswire
HOUSTON, TX / ACCESSWIRE / July 1, 2015 / SCT&E LNG, Inc. has hired Proes, an international marine and environmental consultancy contractor, to complete the marine infrastructure studies for its LNG project on Monkey Island, Cameron Parish, Louisiana. As one of its initial tasks, Proes will develop a Waterway Suitability Assessment (WSA) to submit to the United States Coast Guard (USCG). Furthermore, Proes will leverage its significant LNG and marine infrastructure experience and work with the SCT&E LNG environmental team to advance the FERC pre-filing process.
Greg Michaels, Chairman and CEO of SCT&E LNG, states, "This is an important next step for our project as we have started preparing for the FERC pre-filing process. The FERC's review process is, among other things, designed to address siting of marine facilities and fulfill its responsibilities under the National Environmental Policy Act (NEPA)."
Mr. Luis del Pozo, CEO of Proes, states, "Proes is honored to be a part of this important United States infrastructure project, and we look forward to working with the SCT&E LNG team. We have evaluated and worked on LNG project sites all over the world, and the project location on Monkey Island has unique characteristics that make it one of the strongest sites for the development of a large-scale LNG facility."
Greg Michaels continues, "Over the next forty-five days, we are scheduled to select our natural gas liquefaction technology provider and engineering contractor. These decisions support our current schedule of starting the FERC pre-filing process in the second half of 2015."
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 (bcf) 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.
Safe Harbor:
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.
