EQT to buy LNG from Sempra's Port Arthur Phase 2 project
A unit of U.S. energy company Sempra will supply 2 metric MMtpy of liquefied natural gas (LNG) from the Port Arthur LNG Phase 2 development project to EQT Corp for 20 yrs, the companies said on Wednesday.
Commercial activity in the U.S. LNG sector has been increasing rapidly after President Donald Trump lifted a moratorium on new liquefied natural gas export permits soon after taking office in January.
Sempra has inked agreements with several companies to supply the superchilled fuel from its Port Arthur LNG Phase 2 project. Last week, it agreed to supply ConocoPhillips with 4 metric MMtpy of LNG (learn more).
The company in July signed a deal with Japan's biggest power generator JERA to supply 1.5 metric MMtpy of LNG (learn more), after Sempra's Port Arthur Phase 2 project in Texas won U.S. approval to export liquefied natural gas to markets in Europe and Asia.
Sempra still expects to make a final investment decision on the Port Arthur LNG Phase 2 project in 2025. LNG companies typically reach an FID on projects once they have secured enough supply deals to obtain the necessary financing for construction.
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