The Groundbreaking Ceremony for the natural gas liquefaction business at the site of the Cameron LNG receipt terminal, in which Mitsui & Co. holds an interest, took place on October 23, 2014, opening construction on the liquefaction plant, which is slated to be operational in 2018.
Louisiana members of the U.S. Senate and House of Representatives, as well as the local Japanese Consul General, were among the roughly 300 attendees present at the ceremony. Members of the government joined representatives from Mitsui and other project Partners in a "Kagami-Biraki" Sake Ceremony during the event.
The Business is to develop and operate liquefaction facilities with an export capability of 12 million tonnes per annum (MTPA) (4 MTPA x 3 trains) at the site of the Cameron LNG receipt terminal owned and operated by Cameron LNG, LLC. Mitsui holds a 16.6% equity stake in the holding company for Cameron LNG, Cameron LNG Holdings, LLC, which it acquired on October 1, 2014 via a wholly owned U.S. subsidiary.
As a result of the natural gas tolling liquefaction agreement executed in May 2013 between another of Mitsui's wholly owned subsidiaries and Cameron LNG, Mitsui has secured 4 MTPA of LNG tolling capacity for 20 years. Mitsui, through that subsidiary, will procure natural gas from the North American market, supply it to Cameron LNG and sell LNG produced by Cameron LNG to Japan and other markets.
To meet the expected increasing global demand for natural gas and LNG, Mitsui will combine the expertise it possesses within its various business segments and exert its unique comprehensive business engineering capabilities in expanding its activities throughout the natural gas and LNG value chain from upstream production to midstream and downstream distribution in this growing market. Mitsui will continue to engage in the project to realize stable LNG production, and commit to contributing to the stable energy supply to the global market, including Japan.