Japan's Toshiba Signs Deal With Freeport LNG

Japan’s Toshiba Corp has agreed to buy 2.2 million tons per annum (mtpa) LNG for 20 years from Freeport LNG.

The supplies will start upon completion of construction of the third train of Freeport LNG’s proposed natural gas liquefaction and LNG loading facility on Quintana Island near Freeport, Texas.

Freeport LNG is positioned to close financing and commence construction of the third train in late 2014. It has previously executed deals with other Japanes utilities namely Osaka Gas and Chubu Electric.

The facility has received authorization from the U.S. Department of Energy (DOE) to export the entire LNG production volume of the initial two trains of the liquefaction project to any country that has, or in
the future develops, the capacity to import LNG and with which trade is permissible.