Energy and chemicals company Aramco has signed an agreement with Sempra that includes a 20-year LNG sale and purchase deal and a potential arrangement for Aramco to acquire a 25% stake in the Port Arthur LNG Phase 2 expansion project in Texas.
Aramco’s LNG supply deal with Sempra will see the company purchase five million tonnes per annum of LNG from the Port Arthur LNG Phase 2 expansion project, which has a total capacity of 12 million tonnes per annum.
Read more: Port Arthur LNG Phase 2 receives FERC approval
The parties hope to conclude a binding LNG sales and purchase agreement and definitive equity agreements with terms similar to those signed in a non-binding heads of agreement. The agreements are subject to several conditions.
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