Japanese banks set to sign $7.5B loan for U.S. Cameron LNG project

|By:, SA News Editor

Japan’s three biggest lenders are among ~30 banks set to sign a $7.5B loan early next month for the Louisiana-based Cameron liquefied natural gas project, Bloomberg reports.

The $10B Cameron project is expected to produce 12M tons/year of LNG starting in 2018, and could provide Japan with an alternative fuel source after the nuclear industry shutdown following the 2011 Fukushima disaster forced it to boost energy imports.

The project is owned by Sempra Energy (NYSE:SRE), GDF Suez (OTCPK:GDFZY, OTCPK:GDSZF), Mitsui (OTCPK:MITSY) and others.