Sempra Energy joins the competition to supply Asia with LNG
North American energy company signed heads of agreement with Total, Mitsui and Tokyo Gas that secure buyers for the full phase 1 export capacity of its LNG terminal on Mexico’s west coast. With a final investment decision due in late 2019, the terminal’s first phase would produce 2.4m tonnes per annum of LNG for export at a shipping cost advantage to Asian markets
Japan remains the largest LNG importer but it is China and other developing Asian markets that see their share of trade increase substantially, reaching 45% of trade volumes by 2023
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