WSJ: Cameron LNG export project set for green light

|By:, SA News Editor

Sempra Energy (SRE -0.7%) and its partners are expected to give the final go-ahead next week on building the proposed $10B Cameron LNG export facility in Louisiana, WSJ reports.

The liquefied natural gas facility has secured $7.5B in loans for the project, which would ship natural gas to Japan; the facility would be able to ship 13.1M tons/year of LNG, and Japanese firms already have agreed to buy 8.8M tons of production.

Imports from the U.S. would cut Japan's fuel costs and reduce the premium that many Asian nations now pay for LNG compared with the price in the U.S. and Europe, according to the oil and gas director at Japan's Ministry of Economy, Trade and Industry.