The US hydrocarbon company ConocoPhillips has entered a non-binding heads of agreement (HoA) with Sempra Infrastructure to acquire a 30% equity interest in Sempra’s Port Arthur LNG project in Texas and offtake 5 Mt/year from the liquefaction facility.
The first phase of Port Arthur LNG will include two liquefaction trains and storage tanks with optimal production capacity of 13.5 Mt/year of LNG. Under the terms of the HoA, ConocoPhillips will supply the gas for its 5 Mt/year offtake and may provide additional gas supply services to the Port Arthur LNG facility. In addition, the company will have the option to acquire certain LNG offtake and equity ownership from future contemplated LNG trains at the Port Arthur LNG site, where a second 13.5 Mt/year project is also under development. Both companies will also evaluate development of low-carbon projects, including a carbon capture and storage (CCS) project for the Port Arthur LNG facility.
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