Lake Charles LNG Receives Final Regulatory Approval from US Federal Energy Regulatory Commission
December 17 2015 - 1:15PM
Business Wire
BG Group (LSE: BG.L) and Energy Transfer Equity,
L.P. (NYSE: ETE) and Energy Transfer Partners,
L.P. (NYSE: ETP) (collectively, “Energy Transfer”) today
announced that the Lake Charles LNG Project has received approval
from the US Federal Energy Regulatory Commission (FERC) to site,
construct and operate a natural gas liquefaction and export
facility in Lake Charles, Louisiana. FERC approval was a key
remaining regulatory consent for the Lake Charles LNG Project.
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With a conditional authorization from the US Department of
Energy to export up to 2 billion cubic feet of natural gas per day
(or approximately 15 million metric tons of LNG per annum), the
Lake Charles LNG Project is expected to be one of the largest LNG
export initiatives in the United States. The technology chosen for
the project, which includes aero derivative turbines with selective
catalytic reduction, is designed to make it one of the most
efficient and cleanest operating LNG facilities in the world, with
air emissions expected to be well below US and state limits.
“Our focus is on being a good neighbor in Lake Charles, where
we’ll be working in a collaborative manner with local communities
to minimize the impacts from construction,” said Jason Klein,
General Manager for BG Group’s America Asset. “At the same time,
we’re excited about our role in the economic expansion of Southwest
Louisiana. Lake Charles LNG has the potential to create several
thousand jobs during construction and if fully operational could
result in approximately 250 long-term operational positions –
sustainable jobs for current and future generations.”
Final investment decisions from both BG Group and Energy
Transfer are expected to be made in 2016, with construction to
start immediately following a positive decision and first LNG
exports anticipated about four years later.
Energy Transfer owns the existing LNG regasification facility in
Lake Charles. By taking advantage of a brownfield site that
includes LNG tanks and other existing infrastructure, as well as
access to a highly developed and liquid gas market, the Lake
Charles LNG Project has the capability to be one of the most
competitive new supply sources for LNG and would significantly add
to BG Group’s global LNG supply portfolio.
Energy Transfer, which will become the largest transporter of
natural gas in the United States upon the close of the previously
announced transaction with The Williams Companies, Inc., will
provide pipeline transportation services on its Trunkline Gas
pipeline system sufficient to supply Lake Charles LNG.
BG Group is responsible for selecting the engineering,
procurement and construction contractor and managing construction.
Upon completion, BG Group would operate and be responsible for the
LNG offtake from the facility.
BG Group plc (LSE: BG.L) is a world leader in natural
gas, with a broad portfolio of business interests focused on
exploration and production and liquefied natural gas. Active in
more than 20 countries on five continents, BG Group combines a deep
understanding of gas markets with a proven track record in finding
and commercializing reserves. For further information visit:
www.bg-group.com
Energy Transfer Equity, L.P. (NYSE: ETE) is a
master limited partnership which 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) and
approximately 2.6 million ETP Common Units, approximately 81.0
million ETP Class H Units, which track 90% of the underlying
economics of the general partner interest and the IDRs
of Sunoco Logistics Partners L.P. (NYSE: SXL), and 100
ETP Class I Units. On a consolidated basis, ETE’s family of
companies owns and operates approximately 71,000 miles of natural
gas, natural gas liquids, refined products, and crude oil
pipelines. For more information, visit the Energy Transfer
Equity, L.P. web site at www.energytransfer.com.
Energy Transfer Partners, L.P. (NYSE:
ETP) is a master limited partnership owning and operating
one of the largest and most diversified portfolios of energy assets
in the United States. ETP’s subsidiaries include Panhandle
Eastern Pipe Line Company, LP (the successor of Southern
Union Company) and Lone Star NGL LLC, which owns and operates
natural gas liquids storage, fractionation and transportation
assets. In total, ETP currently owns and operates more than 62,500
miles of natural gas and natural gas liquids pipelines. ETP also
owns the general partner, 100% of the incentive distribution
rights, and approximately 67.1 million common units in Sunoco
Logistics Partners L.P. (NYSE: SXL), which operates a
geographically diverse portfolio of crude oil and refined products
pipelines, terminalling and crude oil acquisition and marketing
assets. Additionally, ETP owns fuel distribution and retail
marketing assets and approximately 50.8% of the limited partner
interests in Sunoco LP (formerly Susser Petroleum
Partners LP) (NYSE: SUN), a wholesale fuel distributor and
convenience store operator. ETP’s general partner is owned
by Energy Transfer Equity, L.P. (NYSE: ETE). For more
information, visit the Energy Transfer Partners, L.P. web
site at www.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 the ETE’s and ETP’s Annual Reports
on Form 10-K and other documents filed from time to time with
the Securities and Exchange Commission. ETE and ETP undertake
no obligation to update or revise any forward-looking statement to
reflect new information or events.
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BG Group Media:David Byford,
713-599-4019orEnergy Transfer
Contacts:Investor Relations:Brent Ratliff,
214-981-0795Lyndsay Hannah, 214-840-5477orMedia Relations:Granado
Communications GroupVicki Granado, 214-599-8785
(office)214-498-9272 (cell)
Sunoco Logistics Partners L.P. (NYSE:ETP)
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