Olivier Gorieu : We’re at the Cameron LNG site in the town of Hackberry in Louisiana. We’re about 25 kilometers from the Gulf of Mexico.
The Cameron project was initially a regasification terminal. But with the boom in natural gas — shale gas and domestic production — in the U.S., it didn’t make business sense to import LNG. So the decision was made to build a liquefaction plant to capitalize on the surplus natural gas in the U.S. to produce liquefied natural gas and export it to international markets.
[Jean-Charles Papeians, Head of Liquefaction, Total, GRP, LNG Division]
Jean-Charles Papeians : This liquefaction plant will have three trains, each producing 4.5 million tons of LNG per year.
For Cameron, Total will procure gas in the U.S. market — we can use our production hub in the Barnett Shale — and transport that gas in pipelines with reserved capacity. The gas will then be transformed liquefied at the plant and loaded on to our LNG carriers to be exported to Asian countries — our biggest customers — and to our regasification terminals in Europe, and even to the LNG-to-Gas and LNG-to-Power projects we’re developing in Africa and Asia. This enables Total to operate across the entire value chain in the U.S.
Total must be present in the U.S. market for various reasons. First, U.S. gas is abundant and cheap, and will stay cheap. It diversifies the global supply, economically and geographically speaking.