SCT&E LNG said that it has been granted authorization from the Department of Energy to export liquefied natural gas to countries with whom the United States has a Free Trade Agreement for a period of 30 years.
The DOE conducted an extensive review of the application to export LNG from the future SCT&E LNG export terminal and determined that exports from the SCT&E LNG terminal are not inconsistent with the public interest. From its proposed 246 acre LNG project site on Monkey Island in Cameron Parish, Louisiana, SCT&E LNG plans to liquefy approximately 1.6 billion cubic feet of natural gas per day to produce approximately 12 million metric tons per annum of domestically produced LNG.
At the next stage of the project, SCT&E LNG seeks to obtain approval from the Federal Energy Regulatory Commission for siting, construction, and operation of its LNG facilities. During this FERC process, SCT&E LNG will also need to achieve National Environmental Policy Act (NEPA) compliance. A final regulatory step involves the non-additive approval from the DOE for export authorization of 12 mtpa to non-Free Trade countries such as China, India, and a number of European countries. During the FERC process, a number of other agency approvals are necessary before the project can commence construction.
SCT&E LNG is currently in the process of developing a $40 million Private Offering for investment into the company. The Offering is for the early stage development of the project, including the FERC process. After the $40 million Private Offering is complete, the company has plans for an initial public offering.
Press Release; Image: SCT&E LNG