In the midst of soaring energy prices, TotalEnergies has just signed a memorandum of understanding on Monday, April 11, aimed at increasing imports from the United States to Europe. This protocol provides for the extension of a liquefied natural gas (LNG) production and export terminal in the United States. It was signed with three partners and holders of the infrastructure: Sempra Infrastructure, Mitsui & Co. Ltd. and Japan LNG Investment – a company jointly owned by Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha (NYK).
Addition of a fourth train
This project involves the construction at the Cameron LNG terminal in Louisiana of a fourth train with a maximum LNG production capacity of 6.75 million tonnes per year and a 5% increase in the three trains already in operation. . These three trains have a capacity of 13.5 million tonnes per year. “The project will also include design improvements to reduce site emissions, including the use of electrically powered compressors”the group said in a press release.
The agreement also provides that TotalEnergies will take over 16.6% of the production of the fourth train, and 25% of the additional production of the existing trains. The French group, which claims the title of leading US LNG exporter, owns 16.6% of Cameron LNG alongside Sempra Infrastructure (50.2%), Mitsui & Co. (16.6%) and Japan LNG Investment ( 16.6%), a joint venture of Mitsubishi Corp. and Nippon Yusen Kabushiki Kaisha (NYK). “The Cameron LNG extension remains subject to the signing of definitive agreements, the obtaining of the necessary authorizations, and the final investment decision of the partners expected in 2023”specifies the TotalEnergies.
This announcement comes as TotalEnergies is singled out for continuing its activities with Russia. In response, the group announced on March 24 that it was studying the possibility of investing in new gas projects to adapt to the loss of production from Russia following the war in Ukraine. Earlier, on March 22, TotalEnergies also said it would stop buying Russian oil and petroleum products by the end of 2022.
With Reuters (written by Marc Angrand)
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