Kansai to Import LNG From Cameron LNG Project

Japanese utility Kansai Electric Power has signed a 20 year deal with Mitsui to buy 400,000 tons a year of LNG sourced from the Cameron LNG project in Louisiana, USA.

Supplies are expected to commence in 2017 and the price will be linked to Henry Hub price, Kansai said in a statement on Monday.

Last year Kansai signed its first US shale gas deal with Sumitomo Corporation under which latter agreed to sell 800,000 tons per year of LNG from the US Cove Point LNG Project.

Japanese utilities have increased imports of LNG in recent year due to the Fukushima disaster in 2011. In 2013, Japan imported record LNG both in terms of quantity and value. The country imported 87.49 million tons of LNG last year, up 0.2 percent.  

Total value of imports stood at 7.06 trillion yen ($68.98 billion), which is also a record.

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