ETR - Cameron LNG Entergy sign MoU to cut emissions from electricity

Cameron LNG said Wednesday it entered into a memorandum of understanding with Entergy ( NYSE: ETR ) to negotiate terms for a new electric service agreement to cut the export facility's Scope 2 emissions from the electricity it purchases from Entergy.

The non-binding MoU comes with a framework for Entergy ( ETR ) and Cameron to finalize and sign a minimum 20-year agreement for the procurement of new renewable generation resources in Louisiana.

The MoU "allows us to memorialize an agreement to bring on enough renewable power to offset the emissions for our facility, including the Train 4 expansion, when all renewable generations phases are added to the supply portfolio," Cameron LNG President Whit Fairbanks said.

The Cameron LNG export plant, with a capacity of 13.5M metric tons/year, is a joint venture between affiliates of Sempra ( SRE ), Mitsui ( OTCPK:MITSF ) ( OTCPK:MITSY ), TotalEnergies ( TTE ), Mitsubishi ( OTCPK:MSBHF ) and NYK Line.

Entergy ( ETR ) is positioned to give a 10%-12% total average annual return over the next three years, Power Hedge writes in an analysis published recently on Seeking Alpha .

For further details see: