Cameron LNG project delayed to 2019

Sempra Energy’s $10bn Cameron LNG project start date is now expected to slip to 2019. Initial plans saw the project up and running by 2018.

The company released details of the delay in their Q2 results presentation stating that the ‘delay is disappointing, but not material economic impact over the life of the project is expected due to strong risk mitigation provisions in Cameron’s contracts’.

They said the delay is due to an updated schedule from the contractor, Cameron’s own review of the schedule and the inherent risks in constructing and testing these types of facilities.

Sempra is still expecting earnings from the projects for 2020 ort be between $300m and $350m.

Cameron LNG is jointly owned by Sempra LNG & Midstream, ENGIE, Mitsui and Japan LNG Investment, LLC, a company jointly owned by Mitsubishi Corporation and Nippon Yusen Kabashiki Kaisha (NYK).

For more information visit www.cameronlng.com

18th Aug 2017