Energy Transfer, Kogas, & Shell Sign a Memorandum of Understanding to Study Joint Participation in the Lake Charles LNG Lique...
June 29 2017 - 8:00AM
Business Wire
Dallas-based Energy Transfer announced today its subsidiary,
Lake Charles LNG Export Company, LLC, has entered into a Memorandum
of Understanding (“MOU”) with South Korea-based Korea Gas
Corporation (Kogas) to study the feasibility of joint participation
in the Lake Charles LNG Liquefaction Project. Houston-based BG LNG
Services, LLC, a subsidiary of Shell is also participating in the
study of the project under consideration.
The Lake Charles LNG facility in Lake Charles, LA is owned 60
percent by Energy Transfer Equity (NYSE: ETE) and 40 percent by
Energy Transfer Partners (NYSE: ETP). The liquefaction project
under consideration by the parties will utilize Energy Transfer’s
existing regasification import facility to accommodate the
development of the liquefaction project. The non-binding MOU signed
yesterday in Washington, D.C., will allow the parties to study the
economics of the project, the engineering, procurement and
construction agreement for the project, and the feasibility of
sourcing and marketing domestically produced natural gas to export
as LNG.
The 440-acre site is located close to Henry Hub with access to
many of the largest natural gas production areas in the United
States, and is connected to ETP’s Trunkline Gas Pipeline System,
which is a more than 2,200-mile natural gas pipeline system that
interconnects with more than a dozen interstate and intrastate
pipelines.
Energy Transfer Partners, L.P. (NYSE:
ETP) is a master limited partnership that owns and
operates one of the largest and most diversified portfolios of
energy assets in the United States. Strategically positioned
in all of the major U.S. production basins, ETP owns and operates a
geographically diverse portfolio of complementary natural gas
midstream, intrastate and interstate transportation and storage
assets; crude oil, natural gas liquids (NGL) and refined product
transportation and terminalling assets; NGL fractionation; and
various acquisition and marketing assets. ETP’s general partner is
owned by Energy Transfer Equity, L.P. (NYSE: ETE). For
more information, visit the Energy Transfer Partners,
L.P. website at energytransfer.com.
Energy Transfer Equity, L.P. (NYSE: ETE) is a master
limited partnership that owns the general partner and 100% of the
incentive distribution rights (IDRs) of Energy Transfer Partners,
L.P. (NYSE: ETP) and Sunoco LP (NYSE: SUN). ETE also owns Lake
Charles LNG Company. On a consolidated basis, ETE’s family of
companies owns and operates a diverse portfolio of natural gas,
natural gas liquids, crude oil and refined products assets, as well
as retail and wholesale motor fuel operations and LNG terminalling.
For more information, visit the Energy Transfer Equity, L.P.
website at energytransfer.com.
Forward-Looking Statements
This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Such forward-looking statements are subject
to a variety of known and unknown risks, uncertainties, and other
factors that are difficult to predict and many of which are beyond
management’s control. An extensive list of factors that can affect
future results are discussed in ETP’s Annual Reports on Form 10-K
and other documents filed from time to time with the Securities and
Exchange Commission. ETP undertakes no obligation to update or
revise any forward-looking statement to reflect new information or
events.
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version on businesswire.com: http://www.businesswire.com/news/home/20170629005304/en/
Energy TransferInvestor Relations:Helen Ryoo, Lyndsay
Hannah, Brent Ratliff, 214-981-0795orMedia Relations:Vicki Granado,
214-840-5820
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