Sempra Infrastructure has signed a 20-year sale-and-purchase agreement (SPA) with ConocoPhillips for 5 million tonnes per annum (Mtpa) of LNG from phase 1 of the proposed Port Arthur LNG project currently under development in Jefferson County, Texas.
The parties have also entered into an equity sale-and-purchase agreement whereby ConocoPhillips will acquire 30 percent 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.
“At Sempra, we certainly believe that great projects are the result of great partnerships,” said Jeffrey Martin, chairman and CEO of Sempra. “That is why we are excited to announce a broad strategic relationship with ConocoPhillips, which has a growing global footprint across the LNG value chain. Together, we have a shared view of the role this facility can play in supporting global economies