SCT&E executives have returned from a trip to Latin America and Asia for meetings with government officials, potential off-takers and investors, regarding the development of the LNG export terminal in Louisiana, US.
Greg Michaels, Chairman and CEO, said: “Countries like Japan and South Korea have been attractive to US LNG developers. However, global demand for LNG continues to grow, particularly in Southeast Asia and Latin America.”
Chinese energy demand
China is the largest energy consumer in the world. However, Michaels notes: "There are currently no announced off-take transactions between major US LNG developers and China. SCT&E LNG intends on changing that!
"Natural gas is twice as clean as coal. China is a perfect off-take match for our development as its LNG expansion plans come online at the same time our project will produce its first LNG exports."
Integrating US exports
While on the Asian tour, SCT&E LNG attended the 1st China LNG Expo held in Shanghai, China and the China LNG International Summit held in the Chaoyang District, Beijing, China.
Michaels delivered a keynote address at the China LNG International Summit, highlighting the importance of integrating US LNG exports in China’s energy matrix.
At both events, the company focused its discussions on the synergies between China's energy needs and how US LNG can fulfill the demand China and others in the region have in order to meet their energy needs with a clean fuel source. Overall, the market's continued response to the Monkey Island project has been extremely positive, and the company is currently in negotiations with off-takers and investors in both Latin America and Asia.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/06052015/potential-investors-for-monkey-island-lng-698/