Sempra Infrastructure has sold a 42 percent indirect, noncontrolling interest in its Port Arthur LNG Phase 1 project to KKR.
The project was officially launched in Jefferson County, Texas, in April, during which time Sempra Infrastructure closed its joint venture with an affiliate of ConocoPhillips and announced an agreement to sell an indirect, noncontrolling interest in the project to an infrastructure fund managed by KKR. As a result, Sempra Infrastructure now retains a controlling 28 percent indirect interest in Phase 1 at the project level, and ConocoPhillips owns the remaining 30 percent. Financial terms were not disclosed.
The long-term contractable capacity of approximately 10.5 metric tons per year was fully subscribed under binding long-term agreements with PKN ORLEN,