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.
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
SLB OneSubsea and Subsea7 have signed a long-term strategic collaboration agreement with Equinor and begun work on two of its… Read More
Presight has acquired a 51% shareholding in AIQ, an energy-focused AI player founded by ADNOC and G42, the companies announced… Read More
UK engineering contractor Wood has been awarded a decarbonisation project by TotalEnergies to support flare gas recovery in the North… Read More
This website uses cookies.