Energy Transfer terminates offtake agreements with some customers of suspended Lake Charles LNG project

By Curtis Williams

HOUSTON, Feb 20 (Reuters) - Energy Transfer ET.N has terminated offtake agreements with some customers of its suspended Lake Charles liquefied natural gas project in Louisiana, according to a filing with the U.S. Securities and Exchange Commission on Thursday.

Here are some details:

• "Several LNG offtake agreements have been terminated based on the nonsatisfaction of the condition related to making a final investment decision by the date specified in the applicable LNG offtake agreement," Energy Transfer said in a 10K filing.

• Energy Transfer in December said it was suspending the development of the facility.

• Lake Charles LNG was projected to have a liquefaction capacity of 16.45 million metric tons per annum, with customers such as U.S. oil producer Chevron CVX.N that had committed to buying 3 mtpa.

• Energy Transfer said sales and purchase agreements not tied to it making a final investment decision remain intact, and it is prepared to include them as part of any sale of the project.

• Energy Transfer is not prepared to fund any part of the project but would be interested in providing it with gas, the company said in the filing.