On May 14 2019, production began at the first liquefaction train of Cameron LNG project in Louisiana, U.S.A., a development in which Mitsui & Co., Ltd ('Mitsui') holds an equity stake.
The project involves the development and operation of 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 terminal, owned and operated by Cameron LNG, LLC ('Cameron LNG'). On October 1, 2014, Mitsui acquired a 16.6% equity interest in Cameron LNG Holdings, LLC, Cameron LNG's holding company, through its 100% subsidiary.
As a result of the natural gas tolling liquefaction agreement executed in May, 2013 between Mitsui's wholly owned U.S. subsidiary and Cameron LNG, Mitsui has secured 4 MTPA of LNG tolling capacity for 20 years. Furthermore, Mitsui will procure natural gas from the North American market and transport it to the Cameron LNG terminal through its wholly owned subsidiary; and LNG produced by Cameron LNG will be delivered globally mainly using 8 LNG carriers chartered long-term by Mitsui.
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 E&P to midstream and downstream business in this growing market. Mitsui will continue to engage in the Cameron LNG project to realize stable LNG production, and commit to contributing to the stable energy supply to the global market, including Japan.