According to Reuters, Japanese partner of Louisiana Cameron LNG project disclosed in Tokyo that the project has received final approval of investment, which will raise $7.4 billion through financing.
This will further enable Japan to import a larger number of LNG from the United States. Japanese government officials and investors believe that LNG imported from the United States will reduce the cost of power generation in Japan.
In America, Cameron LNG project, Sabine Pass LNG projects and more than 20 other LNG projects are competing to sell a mass of relatively cheap shale gas to foreign markets, thereby obtaining a higher price.
The price of LNG in Asian spot market is approximately $10.5 for a million British thermal units. While in the United States, the benchmark price of natural gas
is less than $4, which excludes liquefaction and transportation costs.
Cameron LNG project is controlled by Sempra Energy Company, which has 50.2% of the share. Japan Mitsui owns 16.6% of the share. Mitsubishi and Nippon Yusen jointly owned 16.6% of the share. And The GDF Suez Group possesses the remaining shares.