(SRE) Sempra Energy in Louisiana LNG Pact

Sempra Energy (SRE) struck a 20-year deal with GDF SUEZ S.A., Mitsubishi Corporation and Mitsui & Co., Ltd. for the development, financing and construction of a liquefied natural gas (“LNG”) facility in the Cameron LNG complex in Hackberry, La. The agreement includes three separate tolling deals worth 4 million-tons-per-annum (Mtpa). The combined initiative is subject to final investment decisions, permit authorizations, financing obligations and certain other customary conditions. These are expected to take place in early 2014. The entire program will cost in the range of $9 billion to $10 billion. Moreover, additional investments in the band of $6 billion to $7 billion will be directed towards the project. Under the agreement, associates of Mitsubishi, Mitsui and GDF SUEZ will each acquire a 16.6% stake in the current facilities as