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SCT&E LNG hires audit firm

LNG Industry,

SCT&E LNG has hired public accounting firm MaloneBailey, LLP, to conduct an audit of its financial statements, prior to a private offering to its accredited investors.

MaloneBailey has extensive experience in the delivery of SEC audit services to small and mid-cap clients in technology, telecommunications, construction, and oil and gas industries.

SCT&E LNG plans to initiate a capital raise of US$40 million for the development of its LNG liquefaction plant and LNG export terminal to be located on Monkey Island, Cameron Parish, Louisiana. SCT&E LNG was recently granted authorisation from the Department of Energy (DOE) for export of 12 million tpy of LNG to countries with whom the US has a free trade agreement.

The company will now begin the next phase of the project development to obtain approval from the Federal Energy Regulatory Commission (FERC) for the siting, construction, and operation of its planned LNG facilities.

CEO Greg Michaels commented: "The project has significant value which will naturally increase as we move through the FERC permitting process and as buyers of LNG execute long-term agreements with the company."

Adapted from press release by Katie Woodward

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