Sempra Energy, ConocoPhillips sign 20-year sale and purchase agreement

Sempra (SRE) announced that its subsidiary, Sempra Infrastructure, and ConocoPhillips (COP) have signed a definitive 20-year sale and purchase agreement for 4M tonnes per annum of LNG offtake from the Port Arthur LNG Phase 2 development project in Jefferson County, Texas. The development of the Port Arthur LNG Phase 2 project remains subject to various risks and uncertainties, including completing the required commercial agreements, securing and/or maintaining all necessary permits, obtaining financing and reaching a final investment decision, among other factors. With momentum in the project’s development, Sempra continues to target making a financial investment decision on Phase 2 in 2025.