Japan LNG Investment (JLI), a joint venture company comprising Nippon Yusen Kabushiki Kaisha (NYK) and the Mitsubishi Corporation (MC), has reached a final investment decision regarding Cameron LNG (CLNG), a natural gas liquefaction and export business located in Lousiana, USA.
JLI will jointly own the project with Sempra Energy, GDF SUEZ, and Mitsui and Co.
The project will involve construction of new LNG liquefaction facilities, as well as an export facility at the existing LNG receiving terminals held by CLNG.
The total expense of the project — for building the plant for LNG operations, funding, investment in existing facilities, and other expenses — is estimated at US$10 billion.
In June 2014, CLNG obtained permission from the US Federal Energy Regulatory Commission to construct the liquefaction terminal and conditional permission from the US Department of Energy (DOE) to export LNG to countries with which the US does not have a free-trade agreement. Full export approval is expected later this year.
Once operational, export capability is expected to be approximately 12 million tonnes per annum and will be utilised from 2018 by GDF SUEZ, Mitsui, and MC in accordance with a tolling agreement among the parties.
