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.

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

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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.