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TheStreet Open House

Cameron LNG Reaches Another Milestone With Federal Permit Application To Construct Liquefaction Project

SAN DIEGO, Dec. 10, 2012 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced it has reached another important milestone to add natural gas liquefaction and export facilities to its existing Cameron LNG terminal in Hackberry, La., filing its permit application with the Federal Energy Regulatory Commission (FERC) requesting approval to begin construction of the project.  The project has been progressing successfully through the FERC pre-filing process, which was initiated in April.

"The Cameron liquefaction project represents a significant investment in new energy infrastructure in Louisiana that will stimulate local, regional and national economic activity, creating new jobs and supporting small businesses," said Mark A. Snell, president of Sempra Energy.  "Our filing keeps us on schedule to receive FERC approval and begin construction in the fourth quarter 2013."  

The net benefits of the project outlined in the FERC application include creating nearly 3,000 direct jobs in the peak construction year and approximately 130 full-time jobs when fully operational.  The federal agency will review the application and conduct an environmental study of the project prior to acting on the permit.

Additional permits and approvals will be required before construction on the Cameron liquefaction project can be completed and the project becomes operational.

"The public scoping meetings held during the summer demonstrated strong community support for the proposed project," said Octavio M. C. Simoes, president of Sempra Energy's LNG operations.  "Our project stimulates the economy, creates local wetlands, promotes stability in domestic natural gas pricing and increases global economic trade."

A report by the U.S. Department of Energy (DOE) released last week demonstrates that increased liquefied natural gas (LNG) exports will result in net economic benefits to the U.S. economy.  The third-party study, prepared by NERA Economic Consulting, is expected to help the DOE weigh some 15 proposals for LNG export, including Sempra Energy's.  The U.S. has more than a 100-year supply of natural gas. 

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