Energy Transfer LP (ET)

[conix]

Energy Transfer seeks five-year extension for LNG export terminal

Aug. 30, 2019 5:38 PM ET|About: Energy Transfer LP (ET)|By: Carl Surran, SA News Editor

Energy Transfer (NYSE:ET) asks the Federal Energy Regulatory Commission for a five-year extension to the end of 2025 to build its proposed Lake Charles LNG export terminal, citing complex international contract negotiations for the delay.

ET received a federal permit for the project in late 2015, which stipulated the liquefied natural gas export terminal was supposed be operational by December 2020, but the project has not been built.

ET says it does not expect to make a final investment decision on Lake Charles LNG until early 2020, but the company has spent $300M on the project so far and plans to spend another $150M before the FID.

Under its permit, the proposed export terminal is authorized to produce 16.45M mt/year of LNG.