ConocoPhillips to Take Stake in Sempra LNG US Export Terminal
This article is for subscribers only.
ConocoPhillips, one of the largest US oil and gas producers, agreed to take a a 30% stake in the first phase of Sempra Energy’s proposed Port Arthur liquefied natural gas terminal in Texas.
The deal involves a 20-year sale and purchase agreement for an annual 5 million metric tons of LNG, and a natural gas supply management agreement whereby ConocoPhillips will manage feedgas supply requirements.