Louisiana LNG Project Gets Important Non-FTA Export Approval
Cameron LNG, one of the most advanced US LNG export projects, (promoted by GDF SUEZ as a shareholder and a capacity holder), has been granted conditional non-Free Trade Agreement (FTA) approval from the US Department of Energy (DOE). The 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 inform that the project received FTA approval in January 2012. The Non-FTA approval will enable them to sell the LNG produced by the Cameron plant, to a much wider range of partners around the world.
Cameron LNG facility: Image courtesy of GDF Suez
Gérard Mestrallet, Chairman and CEO of GDF SUEZ, said: “The decision of the DOE to grant non-FTA approval opens a major opportunity for GDF SUEZ to further develop long-term LNG sales in a fast-growing global market. Cameron LNG will open new horizons for US gas production, that is dramatically boosted by the shale gas revolution and will strengthen GDF SUEZ position in LNG world market.”
The completion of the environmental impact assessment by the Federal Energy Regulatory Commission (FERC), is expected in the coming weeks as last gate before FID.
In May 2013, GDF SUEZ concluded a Joint Venture Agreement with Sempra, Mitsubishi (MBI.F) and Mitsui to develop the Cameron LNG Project. 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), which will enhance the Group’s LNG portfolio. The facility should be commercially operational in 2018.
About GDF Suez
GDF SUEZ is a global LNG player and the main LNG importer in Europe. 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 mid and long term charter agreements.