1. Home
  2. News Releases
  3. 2013
  4. NYK Establishes Consortium for Cameron LNG Project

NYK Establishes Consortium for Cameron LNG Project

May 17, 2013

Nippon Yusen Kabushiki Kaisha (NYK) has established a consortium company, Japan LNG Investment (JLI), in the U.S. state of Louisiana together with the Mitsubishi Corporation (MC) to possibly participate in the Cameron LNG (CLNG) project being by promoted by Sempra Energy, GDF Suez S.A., Mitsui & Co. Ltd., and MC.
Through JLI, NYK would participate in the liquefaction business with MC by investing in CLNG, a liquefaction company that Sempra Energy holds. JLI shareholders would have a 16.6% share of CLNG’s business. A final decision on whether to be a part of this project will be made at the beginning of 2014 after various permissions are granted and adequate funds are obtained. A final decision on investment by shareholders is a term for issuing a shareholders agreement in this project.
This is a liquefied natural gas (LNG) project operated by CLNG, and the project expense is expected to be about 10 billion dollars for building the plant for LNG operations, funding, investment in existing facilities, and other expenses. Plant construction will begin from 2014 in an effort to begin processing LNG in the latter half of 2017. Production volume is expected to be approximately 12 million tons per annum (mtpa), and this will be taken by Mitsui & Co. Ltd. and MC based on a consignment agreement with CLNG.
Last year, CLNG obtained permission to export 12 mtpa of LNG to countries with which the United States has entered into a free trade agreement (FTA) for the trade of natural gas, and is in currently applying for permission to export to certain countries with which an FTA has not yet been ratified. In addition, the application for the building of the plant has been completed and will be submitted to the U.S. Federal Energy Regulatory Commission at the beginning of 2014.
In April 2011, NYK launched its three-year medium-term management plan, “More Than Shipping 2013,” and one of the goals of this plan was for NYK to grow its business by leveraging its know-how in LNG and offshore business activities. By participating in this project and being a part of the LNG value chain, NYK will obtain a deeper knowledge of overall LNG business activities, thus allowing the company to provide better service to its customers.
1.    Schematic Diagram

2. Cameron LNG Project Location

3.    Outline of each company
GDF SUEZ develops its businesses (electricity, natural gas, services) around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: liquefied natural gas, energy efficiency services, independent power production and environmental services. GDF SUEZ employs 219,300 people worldwide and achieved revenues of €97 billion in 2012. The Group is listed on the Paris, Brussels and Luxembourg stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, ASPI Eurozone, Vigeo World 120, Vigeo Europe 120 and Vigeo France 20.
Mitsubishi Corporation is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC’s current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. With over 200 offices & subsidiaries in approximately 90 countries and a network of over 500 group companies, Mitsubishi employs a multinational workforce of nearly 60,000 people.
Mitsui & Co., Ltd. is one of the most diversified and comprehensive trading, investment and service enterprises in the world, with 150 offices in 67 countries as of May, 2013. Utilizing the global operating locations, network and information resources, Mitsui is multilaterally pursuing business that ranges from product sales, worldwide logistics and financing, through to the development of major international infrastructure and other projects in the following fields, Iron & Steel Products, Mineral & Metal Resources, Infrastructure Projects, Motor Vehicles & Construction Machinery, Marine & Aerospace, Chemicals, Energy, Food Resources, Food Products & Services, Consumer Services, IT, Financial & New Business and Transportation Logistics. Mitsui is actively taking on challenges for global business innovation around the world.
Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2012 revenues of approximately $10 billion. The Sempra Energy companies' nearly 17,000 employees serve more than 31 million consumers worldwide.
Related press release: “NYK Jointly Participates in Wheatstone LNG Project,” June 18, 2012,
The news on this website is as of the date announced and may change without notice.