Sempra Energy, Mitsui & Co. Ltd., GDF Suez S.A. and Mitsubishi Corporation 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% equity in the existing facilities and the liquefaction project. A Sempra Energy affiliate will retain 50.2%. 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.

The offers for Bord Gáis Energy Trading Limited (BGE) will be due in late June 2013. The memorandum will be circulated to interested parties. The sale tag is likely to be around €1 billion. Sunday Business Post reported that JP Morgan is handling the sale, with interested parties believed to include CVC Capital Partners Limited, Macquarie Group Limited (ASX:MQG) and Paul Hastings LLP. A number of parties are interested in buying BGE. Royal Bank of Canada is also advising BGE on the sale process. Centrica plc (LSE:CNA) is being advised by Goodbody Corporate Finance to represent it in the bidding process, while GDF Suez S.A. (ENXTPA:GSZ) has also recently emerged as a likely bidder. SSE plc (LSE:SSE) and Iberdrola SA (CATS:IBE) are also believed to be interested. Barclays Capital PLC is advising NewERA on the sale of BGE. Some sources familiar with the process said security of supply would be high on the government's agenda, which may weaken the hand of interested private equity players. Competition in the market will also be an important consideration.

GDF Suez S.A., Q1 2013 Earnings Call, Apr 23, 2013