US moves forward on Port Arthur LNG development
USA
SAN DIEGO, March 23, 2023 – Sempra Energy has passed the FID on the first phase of its Port Arthur LNG project in Texas, the North American energy infrastructure company announced on Monday.
The project located in Jefferson County will be developed by an affiliate of ConocoPhillips with equity participation from infrastructure fund manager KKR & Co.
Under the agreement, KKR & Co. will take 25% to 49% of non-controlling shares in the development.
The company also announced the close of the asset’s USD 6.8-billion non-recourse debt financing.
The project is now proceeding to its FEED stage, which will be handled by engineering firm Bechtel Energy.
The USD 13-billion Port Arthur LNG phase one 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 tonnes per year of LNG.
The second phase with a similar offtake capacity to its first is expected to be commissioned in 2028.
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