ConocoPhillips to buy 30% stake in Sempra's Port Arthur LNG project (NYSE:COP)
CHUNYIP WONG/E+ via Getty Images ConocoPhillips (NYSE:COP) said Thursday it entered into a heads of agreement with Sempra (NYSE:SRE) to acquire a 3...
CHUNYIP WONG/E+ via Getty Images ConocoPhillips (NYSE:COP) said Thursday it entered into a heads of agreement with Sempra (NYSE:SRE) to acquire a 30% direct equity holding in the Port Arthur LNG project and joint participation in other related energy infrastructure in southeast Texas and the Pacific Coast of Mexico; financial terms are not disclosed. The HOA also anticipates an agreement for a 20-year liquefied natural gas tolling arrangement for ~5M tons/year at Phase 1 of the Port Arthur LNG project under development, and Conoco (COP) would have the option to acquire LNG offtake and equity ownership from future contemplated LNG trains at the Port Arthur LNG site.