GDF SUEZ and its partners take Final Investment Decision for the Cameron LNG project
GDF SUEZ and its partners in the Cameron LNG project announced the Final Investment Decision (FID) for the construction of the liquefaction plant.
Cameron LNG is located on an industrial-zoned site along the Calcasieu Channel in Hackberry, Louisiana. The plant will produce and export up to 12 million tons per year with 3 liquefaction trains. The construction works on site will start this fall. The total cost of this facility will be around USD 10 billion. The production of the first train is expected to start in early 2018, with second and third trains following later in 2018 and in 2019 respectively.
After completion of the plant, GDF SUEZ will have a 4 mtpa liquefaction capacity booked on a long-term tolling basis.
This decision follows receipt by Cameron LNG of the authorization to construct from the US Federal Energy Regulatory Commission (FERC) and receipt of the conditional approval from the US Department of Energy (DOE) to export LNG to nations with which the United States does not have a Free Trade Agreement.
Gérard Mestrallet, President and CEO of GDF SUEZ stated “We are very pleased to partner in one of the first LNG export projects in the US. The Cameron LNG project is a key element in GDF SUEZ’ ambitious LNG strategy as it will enable us to provide our customers around the world with a safe and secure supply of LNG on medium and long term basis. We would like to express our sincere pleasure with working with our partners – Sempra, Mitsubishi, Mitsui and NYK – in achieving this new milestone. The Cameron LNG project will be beneficial for the United States and will contribute to matching the growing energy needs of importing countries especially in Asia, and to security of gas supply in the world.”
GDF SUEZ and the Cameron LNG project
In May 2013, GDF SUEZ concluded the Joint Venture Agreement for Cameron LNG with Sempra (50,2%), Mitsubishi (16,6%, through a company established between Mitsubishi Corporation and NYK) and Mitsui (16,6%), and a Liquefaction and Regasification Tolling Agreement with Cameron LNG. 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), on a long term basis.
An Engineering and Procurement Contract (EPC) has been awarded to a joint venture of the firms CB&I from the US and Chiyoda from Japan.
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 medium and long term charter agreements. The fleet is permanently optimized to satisfy GDF SUEZ’ long term commitments and short term opportunities. The Group has also a significant presence in regasification terminals around the world.
The project of the LNG Cameron liquefaction plant in the United States
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.
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 147,200 people worldwide and achieved revenues of €81,3 billion in 2013. 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).