Sempra Energy said on Nov. 22 that ConocoPhillips will buy five million tonnes per annum (mtpa) of LNG from Phase 1 of the Port Arthur LNG project under development in Jefferson County, Texas.
U.S. oil and gas producers have rushed to back projects to spur domestic LNG development and exports. Western sanctions on Russia have choked an already undersupplied market and put U.S. gas prices and exports into high gear.
As preciously announced, ConocoPhillips will acquire 30% of the equity in Port Arthur LNG Phase 1 and will manage the feedgas supply requirements for the facility, the companies said.
Financial terms of the agreement were not disclosed.
The Port Arthur LNG Phase 1 project is expected to produce up to about 13.5 mtpa of LNG, while a Phase 2 project is under marketing and development.
Recommended Reading
APA, Palantir Expand Partnership to Deploy New AI Across E&P Operations
2024-09-25 - APA Corp. will introduce new AI capabilities to its oil and gas operations with Palantir Technologies’ Artificial Intelligence Platform (AIP) software.
HNR Increases Permian Efficiencies with Automation Rollout
2024-09-13 - Upon completion of a pilot test of the new application, the technology will be rolled out to the rest of HNR Acquisition Corp.’s field operators.
STRYDE Awarded Seismic Supply Contracts in Mexico
2024-09-03 - STRYDE was awarded two seismic node supply contracts in Mexico, the company’s first projects in the country.
2024 E&P Meritorious Engineering Awards for Innovation
2024-11-12 - Hart Energy’s MEA program highlights new products and technologies demonstrating innovations in concept, design and application.
BP to Use Palantir Software to Improve AI in Operations
2024-09-09 - BP and Palantir have agreed to a five-year strategic relationship in which Palantir’s AIP software will use large language models to improve BP operations.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.