SCT&E LNG inks third offtake deal

SCT&E LNG said Thursday it has signed a non-binding memorandum of understanding for the sale of 1 mtpa of LNG from its proposed export plant on Monkey Island in Cameron Parish, Louisiana.

According to a statement by SCT&E LNG, this multi-billion dollar deal was signed with one of Asia’s largest utility/power generation companies. In addition to the offtake of 1 mtpa, the agreement allows for a future equity investment into the SCT&E LNG liquefaction terminal.

The LNG export project is currently scheduled to produce a total of 12 mtpa of chilled gas with shipments beginning in 2022.

Last year, SCT&E LNG, a subsidiary of Southern California Telephone Company, announced the signing of two offtake MoU’s.

This new agreement, combined with two previous signed MoU’s, brings the company’s total offtake agreements to 2.7 mtpa.

SCT&E LNG is currently in talks with a number of offtakers globally and expects to announce more contracts soon, the statement added.

 

LNG World News Staff

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Posted on February 11, 2016 with tags .

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