Saudi Aramco to buy U.S. LNG

Saudi Aramco to buy U.S. LNG

Saudi Aramco has entered into a 20-year agreement with U.S.-based Sempra Energy to purchase liquefied natural gas (LNG) from its subsidiary Sempra LNG, the two companies said.

The two companies are also finalizing a 25% equity investment in the phase 1 of Port Arthur LNG, they said in a joint statement. The sale-and-purchase agreement is for 5 million tonnes per annum (mtpa) of LNG from phase 1 of the Port Arthur LNG export project under development, the firms said.

The proposed Port Arthur LNG Phase 1 project is expected to include two liquefaction trains, up to three LNG storage tanks and associated facilities which should enable the export of about 11 mtpa on a long-term basis, Reuters reported.

"Port Arthur LNG could be one of the largest LNG export projects in North America, with potential expansion capabilities of up to eight liquefaction trains or approximately 45 mtpa of capacity," the statement said.

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