Houston, TX – January 19, 2006 – Gulf Coast LNG Partners, L.P. (“GCLP”) announced today two major accomplishments relating to the proposed Calhoun LNG Regasification Terminal located at The Port of Port Lavaca – Point Comfort in Calhoun County, Texas. GCLP has entered into a memorandum of understanding (“MOU”) with Tractebel Gas Engineering GmbH (“Tractebel”) for the detailed engineering, procurement and construction (“EPC”) of the proposed Calhoun LNG Terminal. Additionally, GCLP secured the remaining funding in Q4 2005 that will allow it to complete all of the development efforts necessary for the Calhoun LNG Terminal to reach project financing.
Tractebel, a leader in the LNG industry, was chosen from a strong field of interested contractors. Tractebel will work with GCLP through a detailed, open-book engineering design process to provide a full-service Lump Sum Turnkey EPC Contract for the project over the coming months. Tractebel is a subsidiary of Tractebel Engineering, a division of SUEZ Energie Services under parent Suez Group, one of the world’s largest utility companies.
“Contracting with Tractebel represents a major step in accelerating the development of our facility,” says Rafael Garcia, Executive Vice President-Asset Development. “Tractebel Gas Engineering is one of the world leaders in the design and construction of LNG Terminals. Partnering with Tractebel shows our commitment to advance a premier regasification project in the heart of the Gulf Coast marketplace.”
Tractebel’s involvement further emphasizes the industry’s confidence in the Calhoun LNG Project. “Tractebel identified the Calhoun LNG Project as a solid project and is excited to be involved in it”, says Richard Gadd, Director of Proposals LNG, for Tractebel. “The Calhoun LNG Terminal is a solid, viable opportunity for Tractebel Gas Engineering to not only continue our history of successful LNG projects, but to expand our presence in the North American LNG market,” says Gadd. “Possessing the resources and competencies to meet all of the Calhoun LNG Terminal’s criteria, we reached an agreement that we believe should ensure mutual success.” Pending timely permitting approvals, full operation is set for late 2009 to early 2010.
This effort has been made possible through additional funding provided to GCLP by Haddington Energy Partners II LP in the fourth quarter of 2005. GCLP has the funding necessary to complete all of the development efforts necessary for the Calhoun LNG Project to reach project financing. “GCLP is now properly positioned to deliver a full service regasification capability to the various international firms that are striving to import LNG into the heart of the Gulf Coast marketplace and to provide long-term supply security for natural gas consumed in North America. We are fortunate to enjoy strong support from the local community, a good terminal location and the financial means necessary to advance this project successfully,” said John Godbold, President of Gulf Coast LNG.
Gulf Coast LNG Partners, LP is a Houston-based partnership formed between Gulf Coast LNG, LLC and Haddington Energy Partners II LP, a private equity fund managed by Haddington Ventures, LLC. Additional information about Gulf Coast Partners, L.P. and the Calhoun LNG and Point Comfort Pipeline projects may be found at www.calhounlng.com.
Haddington provides capital to the energy industry, including mid-stream oil and natural gas companies and electric generation, transmission, and distribution companies, with a focus on natural gas storage, gathering and processing, and other mid stream activities.