Tohoku to buy LNG from Cameron LNG
Japan’s Tohoku Electric Power Co is set to buy more LNG from the US Cameron liquefaction project, owned by Sempra Energy, GDF Suez, Mitsui and Japan LNG Investment, LLC. The company will purchase 570 000 tpa of LNG using the Henry Hub pricing index.
Tohoku signed a Heads of Agreement in Paris with 16.6% Cameron LNG stakeholders GDF Suez to buy 270 000 tpa of LNG for a period of 20 years commencing in 2018 or 2019.
Jean-Marie Dauger, Executive Vice-President of GDF Suez in charge of the Global Gas & LNG business line said: “This sales agreement seals our first long-term LNG sale with a Japanese partner, as well as the emergence of US LNG contributing to Japan energy supply, thanks to the benefit of the shale gas revolutionin America. Such a contract shows how GDF SUEZ strategy is right in the heart of the present world energy challenges.”
Last month, Tohoku said it had signed an agreement with Mitsubishi Corp. to buy 300 000 tpa of LNG for a period of 16 years from 2022. The LNG will also be purchased at the US Henry Hub price for natural gas, as Japanese companies seek to diversify supply of LNG and reduce prices.
Edited from various sources by Ted Monroe
Read the article online at: https://www.lngindustry.com/lng-shipping/19052014/tohoku_electric_power_to_purchase_more_lng_from_cameron_lng_project_at_henry_hub_prices/
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