DALLAS--(BUSINESS WIRE)--Jun. 29, 2017--
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
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.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170629005304/en/
Source: Energy Transfer Partners, L.P.
Helen Ryoo, Lyndsay
Hannah, Brent Ratliff, 214-981-0795