The energy company Sempra Infrastructure on Wednesday issued a statement announcing that it has entered a 15-year contract with RWE Supply & Trading for the supply of 2.25 million tons of liquefied natural gas (LNG) per year
WASHINGTON (Pakistan Point News / Sputnik - 28th December, 2022) The energy company Sempra Infrastructure on Wednesday issued a statement announcing that it has entered a 15-year contract with RWE Supply & Trading for the supply of 2.25 million tons of liquefied natural gas (LNG) per year.
"Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE) (BMV: SRE), today announced it has entered into a long-term sale and purchase agreement (SPA) with RWE Supply & Trading, a subsidiary of RWE (RWE: AG), for the supply of approximately 2.25 million tonnes per annum (Mtpa) of liquefied natural gas (LNG) from the Port Arthur LNG Phase 1 project under development in Jefferson County, Texas. The LNG will be delivered on a free-on-board basis for 15 years," the statement said.
In line with the contract, the provision of a framework to further explore ways to reduce LNG carbon intensity from the Phase 1 project at the Port Arthur facility has been included, the statement added.
Sempra Infrastructure CEO Justin Bird said he felt very positive about the agreement because it would help ensure the energy security and environmental goals of its European partners.
Sempra recently announced a long-term agreement to purchase 7.3 million tons of gas from ConocoPhillips, INEOS and ENGIE, destined for the terminal's Phase 1 project. Phase 1 of Port Arthur facilities is set to include two LNG storage tanks and other production infrastructure.
