LAGUNA BEACH, CA and HOUSTON, TX / ACCESSWIRE / November 12, 2014 / SCT&E LNG announces John Siffert as the company's President of Engineering and Construction for the development of its Liquefaction and Export Terminal on Monkey Island, in Cameron Parish, Louisiana. Mr. Siffert will lead the SCT&E LNG team in finalizing its selection of a liquefaction technology and will direct the project through the Federal Energy Regulatory Commission (FERC) approval. Following FERC approval, he will lead the team in its engineering and construction phases. Mr. Siffert joins the SCT&E LNG team, now headquartered in Houston, Texas.
"We are so pleased to have John on board. His experience, knowledge, and industry relationships in the LNG world are priceless," asserts Greg Michaels, CEO of SCT&E LNG. "The fact that John is a Louisiana native and an LSU Alumni adds to an already exceptional fit for the project and company." Mr. Siffert has over 15 years of experience in the LNG industry and most recently in the capacity as Vice President/Project Director for Gas Monetization at Foster Wheeler. Demonstrated through his proven achievements, Mr. Siffert has the ability to lead the SCT&E LNG Monkey Island project from commencement to completion.
During his tenure at Foster Wheeler, Mr. Siffert led the due diligence for two major LNG projects: Blackstone's equity investment into Cheniere's Sabine Pass Liquefaction Facility and Global Infrastructure Partner's $850 million equity investment into Freeport LNG. As Foster Wheeler's project sponsor for Sempra's Cameron LNG export facility, recently approved by FERC, Mr. Siffert was the senior participant for the FERC and Front End & Engineering Design (FEED) stages. Mr. Siffert was also a strong contributor to the Cameron LNG facility during the EPC evaluation and negotiation process. As part of a multi-team collaboration, Mr. Siffert provided input, advice, and strategy on the commercial evaluation process, helping Cameron LNG secure their $6 billion Engineering, Procurement and Construction contract with CB&I. Construction on the Cameron LNG project, located in Hackberry, Louisiana, commenced in October of this year.
Prior to his position at Foster Wheeler, Mr. Siffert worked in an executive capacity for Kvaerner E&C, formerly Aker Solutions/Aker Kvaerner, where he led global efforts to ensure that the onshore and offshore LNG projects were executed and consistent with business objectives, execution strategies, and client requirements. As Senior Vice President of the commercial group, Mr. Siffert directed business strategies, developed project execution models, and worked with other business divisions, such as units working on offshore oil and gas projects, high value engineering centers in India and China, and non-union construction units. Mr. Siffert also led the internal team that negotiated and finalized other large LNG projects, such as Adriatic LNG (Port Levante, Italy) and Gulf LNG (Pascagoula, MS), and helped to set up a 50/50 joint venture with a Japanese firm for project execution, resulting in joint business revenue of over $2 billion.
When asked why John Siffert joined the SCT&E LNG team, he replied, "It's an excellent time in my life to apply my knowledge and put my heart and soul into a project that's located in my home state of Louisiana. I evaluated many potential LNG opportunities, but after researching and understanding the site on Monkey Island and getting to know the values and vision of SCT&E LNG, I knew I had found the right fit." As SCT&E LNG aggressively moves its LNG project forward, Mr. Michaels says, "John is an LNG powerhouse and the right leader for the Monkey Island Project. The FERC and FEED stages of this project are critically important. John's experience in this regard is invaluable."
SCT&E LNG is currently in the process of developing a private placement memorandum (PPM) for investment into the company. After the $40 million private offering is fully subscribed, the company has plans for an initial public offering (IPO). SCT&E LNG believes the market will respond positively to John's leadership when evaluating the company in the upcoming private offering and the ensuing IPO.
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, SCT&E 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.
SCT&E 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. SCT&E 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.
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 SCT&E LNG 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 factors could cause SCT&E LNG's actual results to differ materially from those contemplated in the forward-looking statements included in this news release and should be considered in connection with information regarding risks and uncertainties that may affect SCT&E LNG's future results.
SOURCE: SCT&E LNG, LLC