Toho Gas inks deal to buy U.S. LNG

Japan’s Toho Gas said it has entered into a sale and purchase deal with Diamond Gas, a Mitsubishi Corporation unit, to buy liquefied natural gas from Cameron LNG export project in the U.S.

This deal follows the heads of agreement the two companies signed in April last year.

Under the agreement, Toho Gas will buy 200,000 metric tons, or three cargoes of LNG per year for a period of 20 years from the liquefaction facility starting in 2019.

LNG will be delivered on an ex-ship basis with the price of the chilled fuel linked to the US natural gas Henry Hub index.

Cameron LNG has obtained approval from the U.S. DOE to export up to 14.95 Mtpa, or approximately 2.1 Bcf per day, of domestically produced LNG.

Construction on the project began in October 2014, with commercial operations expected to begin in 2018.

Cameron LNG is a joint venture owned by affiliates of Sempra Energy, Engie, Mitsui & Co. and Japan LNG Investment, a joint venture formed by affiliates of Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha.

 

LNG World News Staff

 

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