Wednesday, February 6, 2013

Does TEPCO Know Something We Don't Know?

TEPCO, the operator of the infamous Fukushima nuclear plant, announced today (technically tomorrow, considering the International Date Line) that it has agreed to purchase 800,000 tons of LNG annually from the U.S. The gas would be purchased through trading firms Mitsui & Co. and Mitsubishi Corp. from Sempra Energy's proposed Cameron LNG facility in Cameron, LA.  

Since Cameron's application to export gas to countries without free trade agreements with the U.S. is still cooling its heels in line with nearly twenty others in a state of limbo, either TEPCO knows something the rest of us mortals don't or they are getting dibs on the gas expecting the project to be approved.  I'm guessing the latter, although smart money is on Cameron as one of the five or six facilities most likely to be built.  This deal just helps it along to what I imagine is an inevitable end.  

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