Sempra Energy Strikes 15-Year LNG Supply Deal with France's ENGIE
(Reuters) — Sempra Energy said on Tuesday it would supply about 0.875 million tonnes per annum (MTPA) of LNG to French power company ENGIE for 15 years from its proposed Port Arthur LNG project in Texas.
U.S. LNG companies have been exporting record volumes to the European Union following sanctions on Russia over Moscow's invasion of Ukraine that reduced supplies in an already tight market.
Sempra said the deal provides a framework to explore ways to lower the carbon intensity of LNG produced at the project through emission reduction.
The Phase 1 of the project is expected to produce up to 13.5 MTPA of LNG, while the Phase 2 is under development.
Sempra aims to complete the remaining steps necessary to achieve a final investment decision for Phase 1 of the project in the first quarter of 2023.
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