Energy Transfer LP (NYSE: ET) announced today that a
comprehensive commercial tender package has been issued to
engineering, procurement and construction (EPC) contractors to
submit final commercial bids for the proposed Lake Charles LNG
liquefaction project being developed by Energy Transfer and Shell
US LNG, LLC (Shell). The project, if sanctioned by Energy Transfer
and Shell, would modify Energy Transfer’s existing LNG import
facility located in Lake Charles, Louisiana to add LNG liquefaction
capacity of 16.45 million tonnes per annum (MTPA) for export to
global markets. The commercial bids are expected to be received in
the second quarter of 2020.
The commercial tender expands on the invitation to tender (ITT)
announced in May 2019 that focused on the technical scope of
project, specifically the contractors’ verification of the
engineering and design of the proposed liquefaction facility. The
commercial tender invites the EPC contractors to develop a
comprehensive commercial bid for the lump sum turnkey contract
based on a fully developed scope related to design, engineering,
technical and safety specifications for the construction,
commissioning and start-up of the proposed Lake Charles LNG
project. The commercial tender also requires the submission by the
contractors of a fully developed execution plan and completion
schedule.
“This is an important step in the continued development of this
LNG project with Shell,” said Tom Mason, President of Energy
Transfer LNG. “This project capitalizes on repurposing existing
brownfield regas assets to achieve cost savings in the construction
of the liquefaction facility. The project will also benefit from
the unique strength of Energy Transfer as a leading natural gas
pipeline operator with extensive connectivity to the Lake Charles
facility.”
“The commercial tender represents another important milestone in
our phased approach to developing a credible and safe LNG project
for Shell and Energy Transfer,” said Frederic Phipps, Shell, Vice
President of Lake Charles. “We look forward to continue leveraging
our global experience in LNG development and build on our positive
collaboration with EPC contractors to drive value and
competitiveness throughout the bid process.”
Shell will act as the Project Lead prior to the companies
reaching a Final Investment Decision (FID), and if sanctioned, as
Construction Manager and Operator of the facility. Energy Transfer
will act as Site Manager and Project Coordinator prior to FID.
About Lake Charles LNG
The proposed Lake Charles LNG project brings together two
leading entities – Energy Transfer as one of the largest pipeline
operators in the US and Shell as a worldwide leader in gas and LNG
– to monetize abundant, cleaner, low-cost US natural gas for future
export to customers around the world. The project is fully
permitted, uses existing infrastructure and benefits from direct
natural gas supply via Energy Transfer’s vast pipeline network.
Energy Transfer
Energy Transfer LP (NYSE: ET) owns and operates one of
the largest and most diversified portfolios of energy assets in the
United States, with a strategic footprint in all of the major
domestic production basins. ET is a publicly traded limited
partnership with core operations that include complementary natural
gas midstream, intrastate and interstate transportation and storage
assets; crude oil, NGL and refined product transportation and
terminalling assets; NGL fractionation; and various acquisition and
marketing assets. ET, through its ownership of Energy Transfer
Operating, L.P., also owns Lake Charles LNG Company, as well as the
general partner interests, the incentive distribution rights and
28.5 million common units of Sunoco LP (NYSE: SUN), and the general
partner interests and 46.1 million common units of USA Compression
Partners, LP (NYSE: USAC). For more information, visit the Energy
Transfer LP website at www.energytransfer.com.
Forward-Looking Statements
This news release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Such forward-looking statements are subject
to a variety of known and unknown risks, uncertainties, and other
factors that are difficult to predict and many of which are beyond
management’s control. An extensive list of factors that can affect
future results are discussed in the Partnership’s Annual Report on
Form 10-K and other documents filed from time to time with the
Securities and Exchange Commission. The Partnership undertakes no
obligation to update or revise any forward-looking statement to
reflect new information or events.
Shell
Shell has been a pioneer in LNG for more than 50 years and is
involved in every stage of the LNG value chain: from finding the
fields, extracting the gas and liquefying it; to shipping LNG and
turning it back into gas; to distributing it to customers. Shell
has LNG supply projects around the world, as well as interests in
and long-term capacity access to regasification plants. Shell US
LNG, LLC is a wholly owned subsidiary of Royal Dutch Shell plc.
Royal Dutch Shell Cautionary Note
The companies in which Royal Dutch Shell plc directly and
indirectly owns investments are separate legal entities. In this
release “Shell”, “Shell group” and “Royal Dutch Shell” are
sometimes used for convenience where references are made to Royal
Dutch Shell plc and its subsidiaries in general. Likewise, the
words “we”, “us” and “our” are also used to refer to Royal Dutch
Shell plc and its subsidiaries in general or to those who work for
them. These terms are also used where no useful purpose is served
by identifying the particular entity or entities. ‘‘Subsidiaries’’,
“Shell subsidiaries” and “Shell companies” as used in this release
refer to entities over which Royal Dutch Shell plc either directly
or indirectly has control. Entities and unincorporated arrangements
over which Shell has joint control are generally referred to as
“joint ventures” and “joint operations”, respectively. Entities
over which Shell has significant influence but neither control nor
joint control are referred to as “associates”. The term “Shell
interest” is used for convenience to indicate the direct and/or
indirect ownership interest held by Shell in an entity or
unincorporated joint arrangement, after exclusion of all
third-party interest.
This release contains forward-looking statements (within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995) concerning the financial condition, results of operations and
businesses of Royal Dutch Shell. All statements other than
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current expectations and assumptions and involve known and unknown
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(without limitation): (a) price fluctuations in crude oil and
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currency fluctuations; (d) drilling and production results; (e)
reserves estimates; (f) loss of market share and industry
competition; (g) environmental and physical risks; (h) risks
associated with the identification of suitable potential
acquisition properties and targets, and successful negotiation and
completion of such transactions; (i) the risk of doing business in
developing countries and countries subject to international
sanctions; (j) legislative, fiscal and regulatory developments
including regulatory measures addressing climate change; (k)
economic and financial market conditions in various countries and
regions; (l) political risks, including the risks of expropriation
and renegotiation of the terms of contracts with governmental
entities, delays or advancements in the approval of projects and
delays in the reimbursement for shared costs; and (m) changes in
trading conditions. No assurance is provided that future dividend
payments will match or exceed previous dividend payments. All
forward-looking statements contained in this release are expressly
qualified in their entirety by the cautionary statements contained
or referred to in this section. Readers should not place undue
reliance on forward-looking statements. Additional risk factors
that may affect future results are contained in Royal Dutch Shell’s
Form 20-F for the year ended December 31, 2018 (available at
www.shell.com/investor and www.sec.gov). These risk factors also
expressly qualify all forward-looking statements contained in this
release and should be considered by the reader. Each
forward-looking statement speaks only as of the date of this
release, December 3, 2019. Neither Royal Dutch Shell plc nor any of
its subsidiaries undertake any obligation to publicly update or
revise any forward-looking statement as a result of new
information, future events or other information. In light of these
risks, results could differ materially from those stated, implied
or inferred from the forward-looking statements contained in this
release.
We may have used certain terms, such as resources, in this
release that the United States Securities and Exchange Commission
(SEC) strictly prohibits us from including in our filings with the
SEC. U.S. Investors are urged to consider closely the disclosure in
our Form 20-F, File No 1-32575, available on the SEC website
www.sec.gov.
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version on businesswire.com: https://www.businesswire.com/news/home/20191203006016/en/
Energy Transfer Media Relations Vicki Granado or Lisa
Coleman - 214-840-5820
Energy Transfer Investor Relations Bill Baerg, Brent
Ratliff, Lyndsay Hannah – 214-981-0795
Shell Media Relations International: +44 207 934 5550
Americas: +1 832 337 4355
Shell Investor Relations International: +31 70 377 4540
North America: +1 832 337 2034
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