Mitsubishi, Mitsui Back $6 Billion Sempra Gas Terminal
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Mitsubishi Corp. and Mitsui & Co. will help Sempra Energy develop a $6 billion natural-gas export facility in Louisiana, as Japan imports record amounts of the fuel.
Mitsubishi and Mitsui, both based in Tokyo, will help fund design, permitting and engineering work and in exchange will each get rights to a third of its export capacity for 20 years, San Diego-based Sempra said in a statement yesterday. The gas-liquefaction plant, capable of handling 1.7 billion cubic feet a day, will be part of Sempra’s existing import terminal in Hackberry, Louisiana.