Japanese Utilities Sink $1.2B Into Freeport LNG Project

Law360, New York (February 27, 2014, 1:24 PM EST) -- Japanese utilities Osaka Gas Co. Ltd. and Chubu Electric Power Co. Inc. have agreed to sink a combined $1.2 billion into Freeport LNG Expansion LP's Texas-based natural gas liquefaction facility and export terminal, Freeport said Thursday.

Osaka and Chubu, which have already signed up as customers for the Quintana Island, Texas, facility, will provide equity for the development of the first of three planned liquefaction plants, also known as trains. Assuming regulatory and other necessary approvals, the funding deal is expected to close in mid-2014, according...
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