A consortium led by San Diego-based Sempra Energy finalized investment details for developing, constructing and operating the Cameron natural gas liquefaction and export project.
The project will be built at Sempra’s Cameron LNG receipt terminal site in Hackberry, Louisiana.
Other members of the consortium are France’s GDF SUEZ and Japanese companies Mitsui & Co. and Mitsubishi Corporation.
The total project cost is estimated at approximately $10 billion, including contribution of the existing Cameron LNG facilities, construction of the new facilities and financing cost.
Cameron will have three-train natural gas liquefaction facilities and an export capability of 12 million tonnes per annum of LNG, or approximately 1.7 billion cubic feet per day.
All three trains are expected to start operations in 2018.
Gas processed at the facility will be exported to Europe and Japan.
The financing commitments for the project total $7.4 billion and will be provided by the Japan Bank for International Cooperation, Japan’s Nippon Export and Investment Insurance and a group of 29 commercial banks.
“This represents one of the largest project financings in the US,” President of Sempra LNG Octavio M.C. Simoes said.
Construction is expected to begin in late 2014.