CEO and Chairman of SCTandE LNG, Greg Michaels, Returns From a Successful Trade Mission to Panama
LAGUNA BEACH, CA and CAMERON PARISH, LA / ACCESSWIRE / October 24, 2014 / CEO and Chairman of SCT&E LNG, Greg Michaels, has returned from a successful Trade Mission to Panama where he was a delegate representing business development for the State of Louisiana. Organized by the Louisiana District Export Council in conjunction with the Louisiana Committee of 100 and the U.S. Commercial Service, the Trade Mission to Panama was a strategic opportunity for SCT&E LNG to promote its proposed LNG manufacturing and export facility, foster new business opportunities, and enhance relationships with Panamanian officials.
As a member of the team representing Louisiana's Maritime Tract, Michaels applauds the organizers of the Trade Mission. "The Louisiana District Export Council did an outstanding job of opening the door for SCT&E LNG to Panamanian business leaders and government officials by setting high level meetings." Access to industry principals allowed Michaels to promote his $9.25 billion natural gas liquefaction and export project on Monkey Island in Cameron Parish, Louisiana. Representatives from the Port of South Louisiana, the Port of New Orleans, the Plaquemines Port Harbor & Terminal District, the Port of Caddo-Bossier, and the Port of Lake Charles contributed to a diversified understanding of the role SCT&E LNG's Monkey Island project will play in the U.S. and Latin American transcontinental economy.
As part of the Maritime Tract, Michaels and the Maritime team were invited on a private tour of the Panama Canal Expansion Project, the largest project at the Canal since the original construction was completed in 1914. With an overall program cost of $5.25 billion, the project will increase the Canal's capacity and allow for Post-Panamax vessels to transit the waterway.
As the only nation with ports in two oceans, Panama will facilitate more cost-effective shipping once the Canal Expansion Project is complete. This is pivotal for U.S. natural gas exporters who will now be able to transport LNG at reduced shipping rates to Asia and other countries located in the Northern and Southern Pacific Ocean. In addition to the SCT&E LNG project on Monkey Island, Michaels also spoke to Panamanian officials about their need for additional power plants and Panama's desire for an LNG terminal. Globally, there is an increased demand for clean burning and efficient natural gas. SCT&E LNG looks to be a key supplier to the growing demand for LNG worldwide.
As a highlight of the Trade Mission to Panama, SCT&E LNG attended a noteworthy event held between the Maritime Trade Mission Delegates and the Panama Canal Authority, the Panamanian government agency that manages and operates the Panama Canal. The meeting included a ceremonial signing of an extension to a Memorandum of Understanding between the Panama Canal Authority (Canal De Panama) and the Port of South Louisiana aimed at facilitating international trade and generating new business by promoting the all water route between Asia and the U. S. Gulf of Mexico.
Now home from the fruitful trip, Michaels is turning his attention to the Private Placement of SCT&E LNG's highly anticipated Monkey Island Project. He is currently interviewing law firms in California that he plans to retain to write the Private Placement Memorandum (PPM). The goal of the PPM is to raise $40 million dollars and is expected to be completed within the next few weeks. Once the PPM is fully subscribed, it will be followed by an initial public offering.
Photo taken at the Manzanillo International Terminal (MIT) located east of the Atlantic opening of the Panama Canal on Manzanillo Bay, Colón Province, Panama. MIT is one of the largest container transshipment terminals in the region and has direct access to the Colón Free Trade Zone. Pictured from left to right: Greg Michaels, Chairman, SCT&E LNG and Paul Robichaux, Commission President, Port of South Louisiana.
Photo taken at a meeting between the Louisiana Maritime Trade Mission delegates and the Panama Canal Authority, Canal De Panama, the Panamanian government agency that manages and operates the Panama Canal. Pictured from left to right: John Hyatt, Commissioner, Louisiana International Gulf Transfer Terminal, Rick Cape, Chief Commercial Officer, Magnolia LNG, David Conner, VP of Economic Development and International Commerce, Southwest Louisiana Economic Development Alliance, and Louisiana District Export Council Member, Greg Michaels, Chairman, SCT&E LNG, Jorge Quijano, Administrator, Panama Canal Authority.
About SCT&E LNG:
Originally established by Southern California Telephone Company, a successful twenty-year, privately owned United States Public Utility Company, SCT&E LNG was created for the development of a Liquefied Natural Gas (LNG) Manufacturing and Export Terminal. The SCT&E LNG project is currently modeled as an LNG Tolling Facility utilizing cryogenic technologies to liquefy natural gas for the exportation of natural gas globally. Plainly stated, the SCT&E LNG plan is to liquefy approximately 1.62 billion cubic feet per day of natural gas to create approximately 12 million tons per annum of LNG at its future facilities on Monkey Island, Cameron Parish, Louisiana. Southern California Telephone Company, doing business today as SCT&E, includes its subsidiary North Energy Central whose principals have built over $5 billion in power generation projects worldwide. Originally founded in 1994 by CEO Greg Michaels, the Company is a vertically integrated Telephone, Energy, and Power Generation Corporation, offering Telecommunication Services as well as Energy Services, including renewable energy and energy efficiency solutions, thus blending the world of utility mediums.
The Company has multiple locations, with its corporate office headquartered in Temecula, California. SCT&E owns and operates a redundant telecommunications network and maintains facilities on both coasts of the United States. The Company holds a U.S. Federal Energy Regulatory Commission (FERC) Authority allowing it to buy and sell energy nationwide in both the wholesale and retail markets.
Safe Harbor:
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to certain risks, uncertainties, and assumptions that include expected earnings, future growth and financial performance, and typically can be identified by the use of words such as "expect," "estimate," "anticipate," "forecast," "plan," "believe", "optimistic," "intend," "will," and similar terms. Although SCT&E LNG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially from those anticipated in these forward-looking statements. A variety of factors that could cause actual results to differ materially from those contemplated above include, among others, general economic conditions, hazards customary in the oil, gas and LNG industries, weather conditions, competition and developments in oil, gas and LNG markets beyond the Company's control, the volatility of energy and fuel prices, failure of customers to perform under contracts, changes in the oil, gas and LNG markets, changes in government regulations of markets and of environmental emissions, the condition of capital markets generally, securitization of sufficient capital or a strategic business arrangement to fund its plan of operation, the Company's ability to access capital markets, management resources and infrastructure necessary to support the growth of its business, unanticipated facilities outages, adverse results in current and future litigation, failure to identify or successfully implement acquisitions (including receipt of third party consents and regulatory approvals), failure to acquire or transact on off-take agreements, and other risk factors related to the liquefied natural gas and related and connected business.
All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. SCT&E LNG undertakes no obligation to update or revise any forward-looking statements, other than as required under applicable securities laws, whether as a result of new information, future events or otherwise. The foregoing review of factors that could cause SCT&E LNG's actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect SCT&E LNG's future results.
CONTACT:
Stephanie Moreau
Assistant to Greg Michaels
Southern California Telephone & Energy
951-693-1880
800-840-6673
Stephanie.m@sctelng.com
www.scteglobal.com
www.sctelng.com
SOURCE: SCT&E LNG
