Saudi Aramco Signs HOA to Purchase LNG and 25% of Sempra’s Port Arthur LNG Project
Posted on May 22, 2019 in Liquefaction, LNG Exports, Markets and Competition | Comments Off on Saudi Aramco Signs HOA to Purchase LNG and 25% of Sempra’s Port Arthur LNG Project
Today, Sempra Energy and Saudi Aramco announced that their respective subsidiaries, Sempra LNG and Aramco Services Company, have signed a heads of agreement (HOA) that anticipates the negotiation and finalization of a definitive 20-year LNG sale-and-purchase agreement for 5 million tonnes per annum of LNG offtake from Phase 1 of the Port Arthur LNG export project under development in Port Arthur, Texas. The HOA includes the negotiation and finalization of a 25% equity investment in Phase 1 of Port Arthur LNG.