SCT&E LNG has signed a non-binding memorandum of understanding for the sale of liquefied natural gas from its future facilities to be constructed on Monkey Island in Cameron Parish, Louisianna.
The MOU for 0.7 million tons per annum of LNG is tied to SCT&E LNG’s upstream 20-year fixed-price for natural gas, the company said in a statement.
According to the statement, this multi-billion dollar agreement was signed with a South American counterpart developing an LNG import terminal in a country with whom the U.S. has a free trade agreement.
SCT&E LNG’s export project is currently scheduled to produce a total of 12 mtpa of the chilled gas with shipments beginning as soon as late 2021 that will support this South American project, among others.
The company revealed earlier that it has signed a deal with a state-owned utility company in Asia for 1.0 mtpa.
This week, the SCT&E LNG executive team is traveling to multiple Asian countries to meet with a number of offtakers and investors, the statement said.
To support these business transactions, SCT&E LNG is in the process of negotiating with investment banking firms for a capital raise. The company is focused on firms that specialize in large financial transactions.
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Image: SCT&E LNG