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$TOT Freeport LNG terminal ships first commissioning cargo

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OTCpicks1   Wednesday, 09/04/19 02:19:56 PM
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$TOT Freeport LNG terminal ships first commissioning cargo

The Freeport liquefied natural gas project in Texas has shipped its first commissioning cargo, the company says, as 150K cm of LNG was loaded on board the tanker LNG Jurojin and left the Freeport LNG export terminal yesterday.

The first cargo loading brings the project closer to the start of commercial operations, which is expected later this month.

Japan's Osaka Gas and JERA Co., a joint venture between Tokyo Electric Power and Chubu Electric Power, will each lift half of Train 1's total contracted capacity of 4.64M mt/year once commercial production starts.

Total (NYSE:TOT) has completed its $800M deal to buy Toshiba's stake in Freeport LNG and will buy 2.2M mt/year of liquefied natural gas for 20 years.

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