HOUSTON & DALLAS--(BUSINESS WIRE)--Dec. 17, 2015--
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.
This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20151217006278/en/
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151217006278/en/
Source: BG Group and Energy Transfer
BG Group Media:
David Byford,
713-599-4019
or
Energy Transfer
Contacts:
Investor Relations:
Brent Ratliff,
214-981-0795
Lyndsay Hannah, 214-840-5477
or
Media
Relations:
Granado Communications Group
Vicki Granado,
214-599-8785 (office)
214-498-9272 (cell)