Sempra Energy To Develop $6 Billion LNG Facility in Louisiana
A three phase construction is scheduled to begin in 2013, with liquefaction beginning in late 2016. "We completed the agreements with world class partners for the development of the full capacity at the liquefaction facility at Cameron LNG," said Octavio M.C. Simoes, president of Sempra Energy's LNG operations. "This project will bring extensive economic benefits to the region, the country and support the continued growth of our natural gas industries as well as international gas markets."
The 12 Mtpa LNG export facility will create 130 new direct jobs, while sparking retention of 60 existing jobs at Sempra's Cameron Parish terminal. The plant is also expected to create an estimated 610 permanent new indirect jobs, along with 3,000 construction jobs at peak activity. The 130 new direct jobs will pay an average annual salary of $80,000, plus benefits.
Gov. Bobby Jindal said, "Sempra's decision to move forward in developing a new LNG export terminal in Louisiana is great news for our state and our people. With expanded natural gas production from the Haynesville Shale and other shale plays, companies are recognizing what a great place Louisiana is for energy investments because of our abundant, reliable supply of natural gas and because of our strong business climate. Facilities like this will help support thousands of jobs in the energy industry across our state and will ensure quality jobs for Louisiana families for years to come." The company is expected to utilize Louisiana's Quality Jobs and Industrial Tax Exemption Program incentives on the project.
The commercial development agreements between Sempra/Cameron LNG and Mitsubishi, Mitsui and GDF Suez bind the parties to fund all development expenses, including design, permitting and engineering, as well as to negotiate 20-year tolling agreements, based on terms of the development agreements. The completed liquefaction facility's total LNG capacity will provide the natural gas-equivalent of 1.7 billion cubic feet per day of liquefied natural gas for worldwide markets.
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