HOUSTON, TX--(Marketwired - Nov 9, 2017) - Laguna Beach, CA, resident and CEO of Monkey Island LNG, Greg Michaels, was featured as a keynote speaker at last week's Wilson Family Office Energy Summit. The exclusive summit focused on current day energy topics ranging from exports of U.S. Liquefied Natural Gas (LNG), where Mr. Michaels' $6.5 billion project was highlighted, to new technological advancements in renewable energy. The Energy Summit took place at the Houston Club, Houston's premier business and social club, whose members comprise of influential business and cultural leaders, including former President George Bush and former First Lady, Barbara Bush.
The Energy Summit was hosted on November 2nd by one of the largest family office associations in the industry. Operating for more than 10 years, the Wilson Family Office Club has more than 1,500 family offices registered and manages more than $1 trillion in assets. The Energy Summit consisted of panel discussions, networking sessions, and keynote speakers to provide focused information to its members on the lucrative investment opportunities emerging in the energy industry and what's in store for investors in 2017 and beyond.
During the summit, Mr. Michaels educated the Family Office community about the importance and need for natural gas globally, and the benefits of natural gas as a clean burning fossil fuel that works as an excellent partner with renewable energy. He further discussed the global demands for this clean and abundant U.S. energy source and the exciting future of exporting U.S. natural gas via LNG. The current administration's America First Energy Plan places natural gas as a key component to the United States being a dominant energy producer.
Mr. Michaels also took time to speak about the company's $6.5 billion CapEx LNG export project being developed in the U.S. Gulf Coast on Monkey Island in Cameron Parish, Louisiana. The project has an all-in cost, including financing, of $8.1 billion. The Monkey Island LNG project will export 15.75 MTPA of LNG which is equivalent to approximately 2.1 billion cubic feet per day of natural gas. The project will bring over $110 billion in revenues over its first twenty-five years of operations back to the U.S. economy. "Natural gas via LNG is part of a global initiative to transition from dirty fossil fuels to clean burning natural gas," Mr. Michaels explained. "Our low-cost LNG export facility will have a direct and positive impact on the global environment by delivering clean and sustainable energy to nations around the world at a price they can afford."
The response from the Family Office community, including many investors seeking new opportunities, regarding the Monkey Island LNG project and U.S. LNG exports was overwhelmingly positive. Richard Wilson, CEO and founder of the Wilson Family Office Energy Summit conference, explains, "After hearing 30 energy investors on stage at the Family Office Club's Energy event last week, it was obvious that everyone who commented on natural gas was bullish on the space, and that the U.S. being a net exporter of natural gas and the opportunity to ship LNG was a dramatic shift that only happens once every decade or two in the energy space."
The Monkey Island LNG executive team is privately raising the first $35MM of $150MM for development of their LNG project. The Monkey Island facility has received an export authorization from the United States Department of Energy and is expected to reach Final Investment Decision in the 4th quarter of 2020, at which point the facility will begin construction and provide thousands of local and statewide construction-related jobs. Once operational, the Monkey Island LNG facility will support over twenty-four thousand jobs across the U.S. and will create hundreds of well-paying and well-needed permanent jobs to the community of Cameron Parish, Louisiana.
About Monkey Island LNG:
Originally established by Southern California Telephone Company, SCT&E LNG, INC. dba Monkey Island LNG is a Nevada corporation and developer of an LNG export terminal in Cameron Parish, Louisiana. The Monkey Island LNG project is currently modeled as an LNG tolling facility utilizing cryogenic technologies to liquefy natural gas for export globally. The Monkey Island LNG plan is to liquefy approximately 2.1 billion cubic feet (bcf) per day of natural gas to create approximately 15.75 million tons per annum (mtpa) of LNG at its future facilities on Monkey Island.
About Southern California Telephone Company:
Southern California Telephone Company (SCTC) is a successful, privately-owned United States Public Utility Company that has been providing innovative telecom solutions to its clients since 1994. Originally established as Wholesale Airtime, Inc. by CEO Greg Michaels, SCTC provides residential, commercial and enterprise premium-based telecom and data services nationwide. SCTC is a multi-resource telecom company providing traditional telecom services in addition to state of the art IP telecom and data services. In addition to maintaining redundant networks on both coasts of the United States, the company is the developer, owner and operator of one of the largest fixed wireless networks in the United States. SCTC has multiple locations, with its corporate office headquartered in Temecula, California.
Safe Harbor:
This press release contains forward-looking statements. 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, Inc. dba Monkey Island 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 offtake agreements, and other risk factors related to the liquefied natural gas and related and connected business. All forward-looking statements attributable to Monkey Island LNG or persons acting on its behalf are expressly qualified in their entirety by these factors. Monkey Island 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 Monkey Island LNG's actual results to differ materially from those contemplated in the forward-looking statements included in this press release and should be considered in connection with information regarding risks and uncertainties that may affect Monkey Island LNG's future results.
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