Aramco inks offtake agreement with Port Arthur LNG

PORT ARTHUR, June 28, 2024 – Aramco has signed a heads of agreement with Sempra Infrastructure for the offtake of 5 million tonnes per year (tpy) of LNG from the Port Arthur LNG Phase 2 project, the Saudi company announced on Wednesday.

The non-binding agreement also envisions Aramco taking a 25% project-level equity stake in Phase 2.

Aramco upstream president Nasir K. Al-Naimi called the deal “a major step in Aramco’s strategy to become a leading global LNG player.”

The USD 13-billion Port Arthur LNG Phase 1 project involves two liquefaction trains, two LNG storage tanks and associated facilities. Upon coming on line in 2027, the complex is expected to have a capacity of around 13 million tpy of LNG.

The second phase, with two trains slated to produce up to 13 million tpy, is expected to be commissioned in 2028.

Project developers say the complex may eventually expand to eight trains.

Image courtesy of Port Arthur LNG.

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