With a final investment decision(FID) made, Sempra Infrastructure is moving forward with the development of Phase 2 of the Port Arthur LNG project and continuing its role in the export of liquefied natural gas from the United States.
Phase 2 of the Port Arthur LNG project
Phase 2 contemplates the construction of two additional natural gas liquefaction trains, a storage tank and other complementary facilities, with an estimated total capacity of 13 million tons per year. The committed capital amounts to $12 billion, plus an additional $2 billion for shared infrastructure.
The total financing is secured through an equity investment led by Blackstone Credit & Insurance, together with KKR, Apollo and Goldman Sachs private credit. This consortium acquired a 49.9% stake in Phase 2. Sempra Infrastructure maintains control with the remaining 50.1%.
Bechtel Energy has received full authorization to begin execution of the project. In addition, its continuity from Phase 1 allows taking advantage of efficiencies and mitigating operational risks in this new stage.
Phase 2 has 20-year LNG sales and purchase agreements with counterparties such as ConocoPhillips, EQT , and JERA. These contracts provide economic certainty and project a staggered commercial operation between 2030 and 2031 for trains 3 and 4.
Source and photo: Sempra
