HOUSTON, TX and CAMERON PARISH, LA–(Marketwired – Jun 7, 2016) – SCT&E LNG, Inc. announced today the company has signed a binding 20-year fixed price natural gas supply agreement to support its future Liquefied Natural Gas (LNG) facility to be constructed on Monkey Island in Cameron Parish, LA.

In May of 2015, SCT&E LNG signed a non-binding Memorandum of Understanding (MOU) with a natural gas supplier for a 20-year fixed price on natural gas from commencement of operations of the SCT&E LNG facility. Over the last several months, SCT&E LNG has been negotiating with its natural gas supplier to convert the MOU into a binding gas supply agreement. Chairman and CEO, Greg Michaels, states, “I am very pleased to announce we have successfully completed the negotiations and now have a contractual method to offer this unique natural gas supply structure to our LNG offtakers. Together with our upstream supplier, we have essentially created a 25-year hedge on natural gas for our customers, and the LNG offtake community is responding positively.”

This 20-year fixed price natural gas supply offering is a first of its kind among U.S. LNG export projects. The SCT&E LNG export project is currently scheduled to produce a total of 12 mtpa of LNG with shipments starting in 2022. The company’s business model seeks to export LNG via take-or-pay tolling agreements and is focused on supplying LNG to meet customer needs during the “second wave” of U.S. LNG demand in 2022 and beyond. To date, SCT&E LNG has signed four offtake MOU’s for a total of 4.7 mtpa of LNG, over a third of its proposed facility’s total capacity.

About SCT&E LNG:

Originally established by Southern California Telephone Company, SCT&E LNG, Inc. is a Nevada corporation and 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 export globally. The SCT&E LNG plan is to liquefy approximately 1.60 billion cubic feet (bcf) per day of natural gas to create approximately 12 million tons per annum (mtpa) of LNG at its future facility on Monkey Island in Cameron Parish, Louisiana. Located on the Calcasieu Ship Channel, the SCT&E LNG project site is approximately 246 acres and sits 2.5 miles inland from the Gulf of Mexico. SCT&E LNG has multiple locations, with its corporate office headquartered in Houston, TX.


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