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Sempra signs LNG supply agreement with Engie for Port Arthur (NYSE:SRE) project


oil tanker transporting liquefied natural gas LNG, blue sea and sunny sky background

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Sempra Energy said Tuesday it has participated in a long-term sales contract with the French power company Engie (OTCPK:ENGIY) to supply liquefied natural gas from the proposed Port Arthur Phase 1 The LNG project is being developed in Texas.

English (OTCPK:ENGIY) will purchase ~875 thousand tons/year of LNG delivered free of charge on board from the proposed liquefaction project for a period of 15 years.

Sempra (NYSE:SRE) also said the agreement provides a framework to explore ways to reduce the carbon intensity of LNG produced from the Port Arthur project through greenhouse gas emission reductions and continuous improvement methodologies.

Port Arthur LNG Phase 1 is authorized and is expected to include two liquefied natural gas trains and LNG storage tanks and associated facilities capable of producing up to 13.5 million tonnes/year of gas. liquefied natural.

Sempra (SRE) recently announced a 20-year supply agreement with ConocoPhillips, which also agreed to buy back 30% of the equity in Phase 1.

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