Tohoku, Engie in Cameron LNG deal

Japanese utility Tohoku Electric informed on Monday it has inked a deal with Engie of France to buy 270,000 mt/year of LNG from the Cameron liquefaction project in the U.S.

This deal follows a heads of agreement signed by the two companies in May of 2014.

Under the contract signed on October 16, Engie will deliver cargoes on ex-ship basis from Sempra-operated Cameron LNG export project currently under construction in Louisiana from 2018 for 20 years.

Tohoku  said it will also be allowed to change LNG delivery destinations and resell volumes to third parties. The price of LNG will be linked to Henry Hub.

Cameron LNG is a joint venture owned by affiliates of Sempra Energy, GDF Suez, Mitsui & Co. and Japan LNG Investment, a JV formed by affiliates of Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha.