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Sempra Energy, GDF SUEZ, Mitsubishi, Mitsui Sign Tolling Capacity, Joint-Venture Agreements For Louisiana Liquefaction Export Facility

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Sempra Energy (NYSE: SRE), GDF SUEZ S.A. (GSZ.FP), Mitsubishi Corporation (TSE 8058; LSE MBC) and Mitsui & Co., Ltd. (8031.TYO), today announced that they have signed 20-year tolling capacity and joint-venture agreements to support the development, financing and construction of a liquefied natural gas (LNG) export facility at the site of the Cameron LNG receipt terminal in Hackberry, La. The tolling agreements subscribe the full nameplate capacity of the three-train, 13.5- million-tonnes-per-annum (Mtpa) facility that will provide an export capability of 12 Mtpa of LNG, or approximately 1.7 billion cubic feet per day (Bcfd), and the full regasification capacity of 1.5 Bcfd. Each tolling agreement is for 4 Mtpa. The joint-venture agreement calls for affiliates of GDF SUEZ, Mitsubishi (through a related company jointly established with Nippon Yusen Kabushiki Kaisha) and Mitsui each to acquire 16.6-percent equity in the existing facilities and the liquefaction project. A Sempra Energy affiliate will retain 50.2 percent. The tolling capacity and the joint-venture agreements are subject to a final investment decision to proceed by each party, finalization of permit authorizations, securing financing commitments that are expected to occur by early 2014, as well as other customary conditions. "These agreements represent a major step forward in the development of our LNG export project at the site of the Cameron LNG facility," said Mark A. Snell, president of Sempra Energy. "This project, one of the largest in Sempra Energy's history, provides benefits to the local Louisiana economy, promotes a favorable balance of trade for the national economy, and supports national and international energy security by assuring reliable long-term gas supplies to U.S. allies and trading partners." The anticipated incremental investment, the majority of which will be project-financed, is estimated to be approximately $6 billion to $7 billion, excluding capitalized interest and other financing costs. The total cost of the facility, including the cost of the existing facilities plus interest during construction, financing costs and required reserves, is estimated to be approximately $9 billion to $10 billion. Construction is expected to start in 2014 with the first phase of liquefaction operations to commence in the second half of 2017. Full commercial operation of all three trains is expected in 2018. "The Cameron LNG project has strong local and regional support, experienced, world-class commercial partners in GDF SUEZ, Mitsubishi and Mitsui and a track record of safe and reliable operations," said Octavio M. C. Simoes, president of Sempra LNG. "We look forward to working with our partners to achieve a final investment decision and commence construction in early 2014." "By being a shareholder of the Cameron LNG project, alongside strong and experienced partners, GDF SUEZ -- one of the world LNG leaders -- will contribute to the emergence in the U.S. of a new source of LNG," said Jean-Marie Dauger, executive vice president in charge of the Global Gas & LNG business line for GDF SUEZ. "The Cameron LNG project will add growth, diversity and flexibility to the group's LNG portfolio, in order to supply its existing or future markets in high growth regions." "By participating in this LNG export project, we are proud to be able to contribute not only to the development of stable energy trade between the U.S. and countries around the world, including Japan, but also to the growth of the U.S. economy," said Jun Nishizawa, vice president of the Global Gas Business Department for Mitsubishi. "With the experience Mitsubishi has accumulated from more than a dozen LNG projects over the last half-century, we are committed to exert all our efforts for the success of this project." "We are pleased to have the opportunity to participate in a stable source of energy supply to meet the increasing global demand, including Japan," said Hirotatsu Fujiwara, general manager of the Natural Gas Division I for Mitsui. "We are confident that our over 40 years' experience in the LNG industry will contribute to the success of this project." Last year, Cameron LNG obtained approval from the U.S. Department of Energy (DOE) to export up to 12 Mtpa of domestically produced LNG to all current and future Free Trade Agreement countries; the authorization to export LNG to countries with which the U.S. does not have a Free Trade Agreement is pending review by the DOE. Cameron LNG initiated the pre-filing process with the Federal Energy Regulatory Commission (FERC) in April 2012 and filed its permit application with the FERC Dec. 7, 2012, requesting approval to construct and operate the project. On April 4, 2013, the FERC issued a "Notice of Schedule for Environmental Review of the Cameron Liquefaction Project" that calls for the final Environmental Impact Statement to be issued in November 2013. Cameron LNG is the first LNG export facility application pending before the FERC to have reached this important milestone in the permitting process and is expected to receive the FERC authorization in early 2014. In January 2013, Cameron LNG initiated a tender process for the engineering, procurement and construction contract for the project and launched its financing process with the Japan Bank for International Cooperation, Nippon Export and Investment Insurance, and commercial banks. Cameron LNG expects to secure financing commitments for the project by late 2013 or early 2014 and award the engineering, procurement and construction contract in late 2013. ABOUT GDF SUEZ GDF SUEZ develops its businesses (electricity, natural gas, services) around a model based on responsible growth to take up today's major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: liquefied natural gas, energy efficiency services, independent power production and environmental services. GDF SUEZ employs 219,300 people worldwide and achieved revenues of EUR97 billion in 2012. The Group is listed on the Paris, Brussels and Luxembourg stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, ASPI Eurozone, Vigeo World 120, Vigeo Europe 120 and Vigeo France 20. ABOUT MITSUBISHI CORPORATION Mitsubishi Corporation is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. With over 200 offices & subsidiaries in approximately 90 countries and a network of over 500 group companies, Mitsubishi employs a multinational workforce of nearly 60,000 people. ABOUT MITSUI & CO. LTD Mitsui & Co., Ltd. is one of the most diversified and comprehensive trading, investment and service enterprises in the world, with 150 offices in 67 countries as of May, 2013. Utilizing the global operating locations, network and information resources, Mitsui is multilaterally pursuing business that ranges from product sales, worldwide logistics and financing, through to the development of major international infrastructure and other projects in the following fields, Iron & Steel Products, Mineral & Metal Resources, Infrastructure Projects, Motor Vehicles & Construction Machinery, Marine & Aerospace, Chemicals, Energy, Food Resources, Food Products & Services, Consumer Services, IT, Financial & New Business and Transportation Logistics. Mitsui is actively taking on challenges for global business innovation around the world. ABOUT NIPPON YUSEN KABUSHIKI KAISHA Nippon Yusen Kabushiki Kaisha is one of the world's leading transportation companies. At the end of March 2013, the NYK Group was operating 846 major ocean vessels, as well as fleets of planes, trains, and trucks. The company's shipping fleet includes 389 bulk carriers, 126 containerships (including semi-containerships), 120 car carriers, 82 tankers, 51 wood-chip carriers, 28 LNG carriers, 18 heavy-load carriers or conventional ships, three cruise ships, and 29 other ships. NYK's revenue in fiscal 2012 was about $23 billion, and as a group NYK employs about 55,000 people worldwide. NYK is based in Tokyo and has regional headquarters in London, New York, Singapore, Hong Kong, Shanghai, Sydney, and Sao Paulo. ABOUT SEMPRA ENERGY Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2012 revenues of approximately $10 billion. The Sempra Energy companies' nearly 17,000 employees serve more than 31 million consumers worldwide.

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