Thursday, December 1, 2022

Breaking: Sempra Signs LNG Supply Deal With Ineos For Port Arthur Project -- December 1, 2022

Updates

December 19, 2022: link here.

Original Post

 We've been waiting for this news.

Link here.

  • Sempra said Thursday, today, December 1, 2022, it entered into a long-term sale and purchase agreement with Ineos for the supply of liquefied natural gas from Phase 1 of its Port Arthur LNG project under development in Texas. 
  • Ineos will purchase ~1.4M metric tons/year of LNG delivered free-on-board from the proposed liquefaction project for a 20-year term
  • The companies also signed a non-binding heads of agreement for Ineos' potential purchase of an additional 200K tons/year from the Port Arthur LNG Phase 2 project under development. 
  • Port Arthur LNG Phase 1 is permitted and expected to include two natural gas liquefaction trains and LNG storage tanks and associated facilities capable of producing as much as 13.5M tons/year of LNG, with first cargo deliveries anticipated in 2027. Sempra (SRE) recently announced a 20-year supply deal with ConocoPhillips, which also agreed to acquire 30% of the equity in Phase 1.

See tags at bottom for list of posts where this is all followed. 

For investors: this news will not affect share prices for SRE today. Nothing ever affects SRE share price. 

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.

All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.   

Yesterday, SRE was up 3.02%; up $4.87; closed at $166.19. This "$124-stock" yields just 2.76%. SRE will likely raise its dividend from $1.45 to $1.55 in the February / March, 2023, declaration.

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