Mitsui, Mitsubishi and NYK to Invest in $10 Billion LNG Project
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Mitsui & Co., Mitsubishi Corp. and Nippon Yusen K.K. will jointly take a one-third stake in a U.S. liquefied natural gas export facility to be built for as much as $10 billion as Japan seeks to tap cheaper shale gas following the Fukushima nuclear disaster.
Mitsui, Japan’s second-biggest trading company, and a venture formed by Mitsubishi and Nippon Yusen, the country’s largest trader and shipping line, will each hold a 16.6 percent stake in the Cameron LNG terminal in Hackberry, Louisiana, the companies said in separate statements that also disclosed they reached a 20-year accord to buy fuel from the facility. San Diego-based Sempra Energy will retain 50.2 percent of the project and France’s GDF Suez SA will take the remainder.