Approval to export granted for the American project Cameron LNG: A major step in its development.
Cameron LNG, one of the most advanced US LNG export projects, promoted by GDF SUEZ as a shareholder and a capacity holder, has just reached a decisive step with the conditional non-Free Trade Agreement (FTA) approval from the US Department of Energy (DOE). Non-FTA agreement will enable GDF SUEZ to export LNG from the Cameron LNG project, in Louisiana, into countries that have not signed a FTA with the USA.
The project received already the FTA approval in January 2012. The two approvals will enable GDF SUEZ to sell the LNG produced by the Cameron plant, to a much wider range of partners around the world.
The Final Investment Decision (FID) of the Cameron liquefaction project, is expected to be taken this year.
Gérard Mestrallet, Chairman and CEO of GDF SUEZ, said: “The decision of the DOE to grant non-FTA approval opens a major opportunity for GDF SUEZ to further develop long-term LNG sales in a fast-growing global market. Cameron LNG will open new horizons for US gas production, that is dramatically boosted by the shale gas revolution and will strengthen GDF SUEZ position in LNG world market.”
The completion of the environmental impact assessment by the Federal Energy Regulatory Commission (FERC), is expected in the coming weeks as last gate before FID.
GDF SUEZ and Cameron LNG project :
In May 2013, GDF SUEZ concluded a Joint Venture Agreement with Sempra, Mitsubishi and Mitsui to develop the Cameron LNG Project. Under these agreements GDF SUEZ will hold a stake of 16.6% in the Project and will have a long term liquefaction capacity of 4 million tons per annum (mtpa), which will enhance the Group’s LNG portfolio. The facility should be commercially operational in 2018.
GDF SUEZ is a global LNG player and the main LNG importer in Europe. Today, with 16 mtpa, GDF SUEZ has the third largest LNG supply portfolio in the world, supplied from six different countries. It controls a large fleet of 14 LNG carriers under mid and long term charter agreements. The fleet is permanently optimised to satisfy GDF SUEZ long term commitments and short term opportunities. The Group has also a significant presence in regasification terminals around the world.
GDF SUEZ develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: independent power production, liquefied natural gas, renewable energy and energy efficiency services.GDF SUEZ employs 138,200 people worldwide and achieved revenues of €82 billion in 2012. The Group is listed on the Paris, Brussels and Luxembourg stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).