This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Update To Lake Charles Liquefaction Project

Stocks in this article: ETEETP

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.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,195.42 +221.11 1.30%
S&P 500 0.00 -2.75 -0.14%
NASDAQ 4,566.1380 +16.9120 0.37%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs