Eni Signs Preliminary Agreement With Sempra LNG
Eni has signed a preliminary agreement with the US company Sempra LNG for the acquisition of a share of regasification capacity at the Cameron terminal which Sempra LNG1 will build on the banks of the Calcasieu River, approximately 15 miles south of Lake Charles, in Louisiana.
The preliminary agreement indicates that the final agreement, with a validity of 20 years, will be signed by 30 June 2005. Eni will directly acquire Liquefied Natural Gas (LNG)2 regasification capacity of between 4 and 6 billion cubic meters per year. The Cameron terminal will be completed during 2008 and will have an initial processing capacity of 15 billion cubic meters per year.
The Cameron terminal will be completed during 2008 and will have an initial processing capacity of 15 billion cubic meters per year. The project has receveid the "authority to construct" from U.S Federal Energy Regulatory Commision and is expected to begin construction later this year.
The agreement is in line with Eni's strategies to reinforce the LNG sector and regasification activities in some key areas, including the United States. The operation with Sempra LNG will ensure access to the North American market where the natural gas reserves which Eni is producing in North Africa and Nigeria will be sold.
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Added to site on 10/03/05