DALLAS--(BUSINESS WIRE)--Aug. 8, 2013--
Lake Charles Exports, LLC (“LCE”), a jointly-owned subsidiary of BG
Group plc (“BG Group”) and Southern Union Company (“SUG”), a joint
venture owned by Energy Transfer Equity, L.P. (NYSE: ETE) and
Energy Transfer Partners, L.P. (NYSE: ETP) (collectively, “Energy
Transfer”), has received an order from the Department of Energy
conditionally granting authorization to export liquefied natural gas to
non-free trade agreement nations from the existing LNG import
terminal owned by Trunkline LNG Company, LLC (a wholly-owned subsidiary
of Energy Transfer) which is located in Lake Charles, Louisiana. LCE
previously received approval to export LNG from the facility to FTA
countries on July 22, 2011.
Energy Transfer and BG Group, through their respective subsidiaries
Trunkline LNG Export, LLC, Trunkline LNG Company, LLC and BG LNG
Services, LLC, have agreed on preliminary terms to jointly develop an
LNG liquefaction project at the facility.
The potential project will entail the construction of three liquefaction
trains with a total capacity of 15 million metric tonnes of LNG per
annum and utilize the existing LNG storage and marine berthing
facilities.
BG Group will have exclusive rights to the full export capacity (with
renewal rights) on a tolling basis and oversee the design and
construction management of the potential project. Additionally, BG Group
will continue to retain contractual rights for import capacity of the
facility throughout the term of the potential project.
Further, to facilitate BG Group’s sourcing of natural gas for the
potential project, Trunkline Gas Company, LLC (also a wholly-owned
subsidiary of Energy Transfer) will provide BG Group with pipeline
transportation for the potential project’s upstream natural gas
requirements.
The Front End Engineering & Design Study for the potential project has
been awarded. SUG has been participating in the Federal Energy
Regulatory Commission’s mandatory pre-filing process and expects to file
a formal application for Section 3 authorization under the Natural Gas
Act in or before the first quarter of 2014.
Pending final investment decisions from both Energy Transfer and BG
Group, Energy Transfer will complete financing for the potential project
and begin construction in mid-2015, with an anticipated project
in-service date in mid-2019.
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 currently has
natural gas operations that include approximately 47,000 miles of
gathering and transportation pipelines, treating and processing assets,
and storage facilities. ETP owns 100% of ETP Holdco Corporation, which
owns Southern Union Company and Sunoco, Inc., and a 70% interest in Lone
Star NGL LLC, a joint venture that owns and operates natural gas liquids
storage, fractionation and transportation assets. ETP also owns the
general partner, 100% of the incentive distribution rights, and
approximately 33.5 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. ETP’s general partner is owned by ETE.
For more information, visit the Energy Transfer Partners, L.P. website
at www.energytransfer.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 approximately 99.7 million ETP common units; and owns
the general partner and 100% of the IDRs of Regency Energy Partners LP
(NYSE: RGP) and approximately 26.3 million RGP common units. The Energy
Transfer family of companies owns more than 71,000 miles of natural gas,
natural gas liquids, refined products, and crude pipelines. For more
information, visit the Energy Transfer Equity, L.P. website at www.energytransfer.com.
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 commercialising
reserves. For further information visit: www.bg-group.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. Among those is the risk that the anticipated benefits from the
proposed transaction cannot be fully realized. An extensive list of
factors that can affect future results are discussed in the
Partnerships’ Annual Reports on Form 10-K and other documents filed from
time to time with the Securities and Exchange Commission. The
Partnerships undertake no obligation to update or revise any
forward-looking statement to reflect new information or events.
The information contained in this press release is available on our
website at www.energytransfer.com.
Source: Energy Transfer Partners, L.P.
Investor Relations:
Energy Transfer
Brent Ratliff,
214-981-0700
or
Media Relations:
Granado
Communications Group
Vicki Granado, 214-599-8785
Cell:
214-498-9272