Approval Expected Next Week for Louisiana LNG Export Project

The Wall Street Journal Reported today that partners with a stake in Louisiana’s Cameron Liquified Natural Gas plant are expecting approval for the investment next week. Sempra Energy (NYSE:SRE) owns 50.2 percent of the project, while Mitsui (TYO:8031) GDF Suez SA (EPA:GSZ) and a joint venture of NYK Line and Mitsubishi Corp (TYO:8058) also have a stake in the plant.

As quoted in the publication:

The final investment decision on the Cameron liquefied natural gas plant would mark a milestone in Tokyo’s efforts to secure U.S. energy supplies. It is one of three U.S. LNG projects from which Japanese companies plan to buy the fuel, which has become key to power generation in Japan since the 2011 Fukushima Daiichi nuclear-power accident.

Economist Mitsuo Fujiyama of the Japan Research Institute, a think tank owned by Sumitomo Mitsui Financial Group, told the Journal:

The U.S. market seems comfortable with plans to export some of its gas. It’s probably backed by the outlook that U.S. has sufficient shale gas reserves, though there is always the possibility of other factors boosting prices such as cold weather.

Click here to read the full Wall Street Journal article.