ConocoPhillips has signed a long-term sales and purchase agreement (SPA) to purchase 4 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from the Port Arthur LNG Phase 2 project. ConocoPhillips will offtake LNG over a 20-year term on a free-on-board basis.
The project is under development by the Sempra subsidiary, Sempra Infrastructure, in Jefferson County, Texas.
ConocoPhillips also signed a long-term agreement for 5 MTPA of LNG offtake in July 2022. It executed an agreement to purchase 30% equity stake in Phase 1 of Port Arthur LNG. Phase 1 of Port Arthur LNG is expected to start up in 2027.
Courtesy of ConocoPhillips.