Mitsui & Co Ltd, Mitsubishi Corp and Nippon Yusen KK will reach an agreement with U.S. energy company Sempra Energy for an about 33 percent interest in a liquefied natural gas project in the state of Louisiana, the Nikkei business daily reported. The Japanese companies along with French firm GDF Suez SA will invest in Cameron LNG - a Sempra unit that now operates an LNG terminal in Hackberry, Louisiana - to build a processing facility to cool locally produced natural gas into liquid, the newspaper said.The companies expect the facility to have a capacity of 12 million tons per year by 2017, the Nikkei said.The total project cost is expected to be about $10 billion, and the Japanese firms' capital outlays will reach about 100 billion yen (about $980 million), the daily said.Mitsui and Mitsubishi plan to sell the LNG to power and gas suppliers in Japan and elsewhere in Asia, the Japanese newspaper said.
MITSUI & CO., LTD. is a Japan-based diversified trading company. Shares of MITSY fell by 0.68% or $-1.9/share to $277.30. In the past year, the shares have traded as low as $253.76 and as high as $318.00. On average, 6206 shares of MITSY exchange hands on a given day and today's volume is recorded at 2002.
Sempra Energy is a holding company. During the year ended December 31, 2011, Sempra Energy?s business was organized in five segments: San Diego Gas & Electric Company (SDG&E), Southern California Gas Company (SoCalGas), Sempra Generation, Sempra Pipelines & Storage and Sempra LNG (liquefied natural gas). Shares of SRE fell by 0.47% or $-0.39/share to $83.15. In the past year, the shares have traded as low as $63.02 and as high as $84.70. On average, 1038930 shares of SRE exchange hands on a given day and today's volume is recorded at 1308408.
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