- Sempra has announced a strategic partnership between its subsidiary, Sempra Infrastructure, and ConocoPhillips for an equity sale and purchase agreement.
- ConocoPhillips will acquire 30% of the equity in Phase 1 of Port Arthur LNG.
Sempra has announced a strategic partnership between its subsidiary, Sempra Infrastructure, and ConocoPhillips for an equity sale and purchase agreement whereby ConocoPhillips will acquire 30% of the equity in Phase 1 of Port Arthur LNG and a natural gas supply management agreement whereby ConocoPhillips will manage the feed gas supply requirements for Phase 1 of the proposed liquefaction facility.
The chairman and chief executive officer of Sempra, Jeffrey W. Martin, said, “We are excited to announce a broad strategic relationship with ConocoPhillips, which has a growing global footprint across the LNG value chain.”
The Port Arthur LNG Phase 1 project is permitted and expected to include two natural gas liquefaction trains, LNG storage tanks, and associated facilities capable of producing approximately 13.5 Mtpa of LNG under optimal conditions. A similarly sized Port Arthur LNG Phase 2 project is also competitively positioned under active marketing and development. However, this is contingent on completing the required commercial agreements, securing all necessary permits, obtaining financing and reaching an affirmative final investment decision, among other factors.