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Final investment decision on Cameron LNG project

A final investment decision was made on August 6 for Japan LNG Investment (JLI), a joint venture company between Nippon Yusen Kabushiki Kaisha (NYK) and the Mitsubishi Corporation (MC), regarding Cameron LNG (CLNG), a natural gas liquefaction and export business to be jointly owned together with Sempra Energy, GDF SUEZ, and Mitsui. This project is located in the U.S. state of Louisiana and will involve construction of new LNG liquefaction facilities and an export facility at the existing LNG receiving terminals held by CLNG. The total expense of the project - for building the plant for LNG operations, funding, investment in existing facilities, and other expenses - is expected to be about 10 billion dollars. A financing agreement for about 7.4 billion dollars has been agreed with the Japan Bank for International Cooperation and private banks. A portion of the financing by the private banks is insured by Nippon Export and Investment Insurance. In June 2014, CLNG obtained permission from the U.S. Federal Energy Regulatory Commission to construct the liquefaction terminal and conditional permission from the U.S Department of Energy (DOE) to export LNG to countries with which the U.S. does not have a free-trade agreement. Full export approval is ...

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Agreement for developing LNG as a marine fuel worldwide

GDF SUEZ, Mitsubishi and NYK signed a framework agreement aiming to develop the LNG Bunkering market worldwide through LNG Bunkering Vessels. This partnership results in two first contracts: on behalf of the venture, the NYK's order of an LNG bunkering vessel and an LNG bunkering contract between GDF SUEZ and United European Car Carriers (UECC), a leading short-sea operator. The partners will provide their know-how and experience to develop this first project in the Northern Europe Emissions Controlled Area (ECA) from Zeebrugge, in Belgium. Jean-Marie Dauger, Executive Vice-President of GDF SUEZ in charge of the Global Gas & LNG business line declared: "GDF SUEZ regards LNG as the future of bunkering. These new agreements emphasize the Group's Retail LNG strategy and demonstrates our commitment to the development of LNG bunkering business on a global scale, alongside with harbor infrastructures and ship operators." The LNG bunkering vessel will be built in the Korean shipyard Hanjin Heavy Industries & Construction with a delivery expected by 2016. Its home port will be Zeebrugge where GDF SUEZ has already secured long term access rights in the Fluxys LNG terminal. The bunkering vessel will be operated by NYK and will supply a range of end-customers. The first customer will be UECC which purchased LNG to GDF ...

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NYK achieves CO2 emission reduction objective from vessels

In fiscal 2013, NYK achieved an 18.1 percent reduction in CO2 emissions, significantly exceeding the goal established in 2008 in the company's "New Horizon 2010" medium-term management plan calling for a 10 percent reduction by fiscal 2013 in the CO2 emission rate per unit of transportation from vessels compared with the rate recorded in 2006. NYK has worked "to contribute to the global environment and the creation of sustainable societies by managing environmental risks and arriving at an optimal balance between environment and economy," as indicated in the company's environmental management vision. This achievement is the product of not only the aggressive introduction and development of the latest energy-saving technologies, such as an air-lubrication system, but also a reduction activities in fuel consumption and CO2 emissions since 2005 resulting from a cooperative effort for efficient and optimal vessel operations and better stakeholder relations among NYK, shipowners, and ship-management companies. This effort is expected to help NYK to attain the goal announced in 2011 in the company's "More Than Shipping 2013" medium-term management plan: a 10 percent improvement in fuel-efficiency above the 2010 level by fiscal 2015. In fact, the company's latest medium-term management plan, "More Than Shipping 2018," was announced ...

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