May 3, 2019   SOURCE: BusinessWire

Energy Transfer, Shell Issue Invitation to Tender for Lake Charles LNG Project

The Lake Charles LNG project, led by Energy Transfer LP (NYSE: ET) and Shell US LNG, LLC (Shell), has issued an Invitation to Tender (ITT) to U.S. and international consortia to bid for the Engineering, Procurement and Construction (EPC) contract to convert Energy Transfer’s existing Liquefied Natural Gas (LNG) import facility in Lake Charles, Louisiana to a proposed large-scale LNG export project.

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The ITT follows the signing of the Project Framework Agreement between Shell and Energy Transfer in March, outlining the commercial terms and pathway to progress development of a proposed 16.45 million tonnes per annum (mtpa) LNG export project in Lake Charles toward a potential final investment decision (FID).

“We are excited to announce this major milestone in the development of the Lake Charles LNG liquefaction project,” said Tom Mason, President, Lake Charles LNG. “The prospective bidders are world-class EPC contractors who will bring extensive LNG experience to bear as they develop their bids.”

“The invitation to tender is another step in our journey to progress a competitive and safe LNG project on the U.S. Gulf Coast,” said Frederic Phipps, Vice President of the Lake Charles LNG project. “Already, leading EPC providers have expressed interest in participating in Lake Charles LNG, a project that will contribute to growing U.S. LNG exports should a FID be taken.”

The Lake Charles project is a 50/50 venture between Energy Transfer and Shell. The project, if sanctioned through an affirmative FID, would convert Energy Transfer’s existing Lake Charles LNG import and regasification terminal to an LNG export facility with a liquefaction capacity of 16.45 mtpa to export U.S. natural gas to global customers. The project is fully permitted, uses existing infrastructure and benefits from abundant natural gas supply and proximity to major pipeline infrastructure, including Energy Transfer’s vast pipeline network.

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 U.S. 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, natural gas liquids (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., formerly known as Energy Transfer Partners, L.P., also owns 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 39.7 million common units of USA Compression Partners, LP (NYSE: USAC).

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.

Energy Transfer Forward-Looking Statement

This press 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 Energy Transfer LP Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. Energy Transfer undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.

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