Saudi Aramco, Sempra Sign IPPA for Port Arthur LNG
Sempra Energy and Saudi Aramco have signed an interim project participation agreement (IPAA) for the Port Arthur LNG export project on the southeast Texas coast. The IPPA follows an earlier heads of agreement signed in May calling for Saudi Aramco to purchase of 5 mtpa of LNG and take a 25% equity investment in the project.
“The global demand growth for LNG is expected to continue in the coming years, and we see significant opportunities in this market,” Saudi Aramco president and CEO Amin Nasser said in a statement.
The initial phase of the Port Arthur LNG project is fully permitted. It is expected to include two liquefaction trains, up to three LNG storage tanks, and associated facilities to enable the export of approximately 11 mtpa of LNG on a long-term basis. Earlier this year, Sempra initiated the US Federal Energy Regulatory Commission (FERC) pre-filing review for subsequent potential expansion of the proposed project, adding two additional liquefaction trains for a total export capacity of approximately 22 mtpa of LNG.
Sempra Energy said the definitive agreements in the Port Arthur LNG export project remain subject to finalization and corporate approvals by each party in its sole discretion before they are executed.
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