Introduction, Precedences for U.S. Terminal Financing John Wolff, director, Zeus
Development Corporation Mr. Wolff will bring the workshop to order, outline
the objectives and the afternoon's agenda, and then
review how the nation's five LNG receiving terminals
have been financed and why.
1:15 - 2:00 PM
Using Debt for Receiving Terminal Financing Chuck Zabriskie, managing
director, Royal Bank of Scotland Mr. Zabriskie will discuss various business models
and the choice of financing structures suited to development
of LNG receiving terminals in North America. RBS is
financial advisor to Freeport LNG, Sonora Pacific
and other LNG projects globally.
2:00 - 2:45 PM
Tax and Regulatory Considerations
When Using MLP's Barry Miller, partner, Vinson
& Elkins Mr. Miller is a nationally recognized authority
on the formation and taxation of publicly traded partnerships
(MLP's). MLP's are already widely used for gas pipeline
and LPG terminal projects. MLP's may offer an economical
financing arrangement and a means for project developers
to "cash out" of LNG terminals.
2:45 -3:15 PM
Break
3:15 - 4:00 PM
Energy Infrastructure Stocks and MLP Units David Schulte, President
& CEO, Tortoise Energy Infrastructure Corp. Tortoise Energy is a recently formed $500 million
taxable closed end management investment company holding
MLP units which is publicly traded on the NYSE. Mr.
Schulte will share an investor's perspective on the
valuation of energy stocks and MLP units.
4:00 - 4:45 PM
Investment Bank's Perspective:
Opportunities for Using Public Bond and Equity Markets
to Finance LNG Terminals Oscar K. Brown, senior vice
president, Lehman Brothers Do financial markets
offer a viable strategy for financing terminal construction,
and if so, what mechanisms offer solutions? Some independent
terminal developers have filed form S-3 registration
statements under the Securities Act of 1933 to issue
preferred stock and debentures of up to $600 million
to fund LNG construction. The speaker will discuss possible
public market strategies.
