Update On Sempra's Coast Azul LNG Project -- Total Secures Stake In Project -- December 9, 2020

See this post for background. 

Today:

• Sempra Energy and IEnova say their ECA Liquefaction joint venture has signed an equity investment agreement for Total to acquire a 16.6% equity stake in the Energia Costa Azul Phase 1 liquefied natural gas export project; terms are not disclosed. 
• Sempra and IEnova will each retain 41.7% ownership stakes in the project to be located in Baja California, Mexico. 
• Last month, ECA LNG announced it reached a final investment decision for the construction and operation of the ~$2B facility, making it the only LNG-export project in the world to have reached FID so far this year. 
•  Earlier this year, Total signed a 20-year sale and purchase agreement for ~1.7M metric tons/year of LNG from the facility.