The first phase of the Port Arthur LNG project will have 13.5mn t/yr of capacity
ConocoPhillips buys into Port Arthur LNG
US superindie will also acquire significant offtake volumes and options to invest in further LNG projects under development by new partner Sempra
Superindie ConocoPhillips has signed a heads of agreement (HoA) with US infrastructure firm Sempra to acquire a 30pc equity holding in the Port Arthur LNG project in Texas and LNG offtake for c.5mn t/yr for 20 years. The first, 13.5mn t/yr phase of the development is fully permitted and comprises two liquefaction trains and associated storage facilities. Under the terms of the deal, ConocoPhillips will supply the gas for its portion of offtake from the plant and "may provide additional gas” . The firm also has options to acquire additional equity and offtake from subsequent expansions at Port Arthur, where a “similarly sized Phase 2 is also under development”, and future works may include “l
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
