Sempra Energy secures three minority partners

By Special to the American Press

Sempra Energy announced Thursday that

it secured three minority partners after signing 20-year tolling

capacity and joint-venture

agreements to support the development, financing and construction

of the liquefied natural gas export facility at its terminal

in Hackberry.

The three companies are GDF SUEZ S.A., Mitsubishi Corp. and Mitsui & Co. Ltd.

The agreement asks affiliates of GDF SUEZ, Mitsubishi and Mitsui each to acquire 16.6 percent equity in the existing facilities

and the liquefaction project. A Sempra Energy affiliate will retain 50.2 percent.

The facility will cost $9 billion-$10 billion. Construction is expected to begin in 2014, with the first phase of liquefaction

operations to begin in the second half of 2017. The three trains will reach full commercial operation in 2018.

“The Cameron LNG project has strong local and regional support, experienced, world-class commercial partners in GDF SUEZ,

Mitsubishi and Mitsui and a track record of safe and reliable operations,” Octavio M.C. Simoes, president of Sempra, said

in a news release.

“We look forward to working with our partners to achieve a final investment decision and commence construction in early 2014.”

In 2012, Cameron LNG received approval

from the U.S. Department of Energy to export up to 12 million tons per

year of domestically

produced LNG to all current and future free-trade agreement

countries.