Riyadh, June 26 (EFECOM).- The Saudi state oil company Aramco and the North American infrastructure company Sempra announced this Wednesday the signing of a non-binding agreement for the purchase and sale of five million tons per year of liquefied natural gas (LNG) from the Phase 2 of the Port Arthur project, in Texas, for 20 years.
In a joint statement, the two energy companies indicated that the agreement also contemplates “Aramco’s 25% participation in the capital at the project level of Phase 2” of Port Arthur.
Likewise, both companies expressed their desire that this agreement by which Aramco will obtain LNG from Sempra becomes binding and leads to other businesses between the companies.
“As a potential strategic partner in the Port Arthur LNG Phase 2 project, Aramco is well positioned to grow its gas portfolio to meet the growing global need for low-carbon energy sources,” he said in remarks at the notes Aramco Upstream President Nasir K. Al Naimi.
The Saudi official added that “this agreement is an important step in Aramco’s strategy to become a leading global player in LNG”, a resource on which it is betting heavily to reduce its dependence on oil.
For his part, the president and CEO of Sempra, Jeffrey W. Martin, indicated that the Port Arthur expansion will facilitate the distribution of American natural gas in global energy markets, with the objective of “improving energy security and, at the same time time, provide a low-emission alternative to coal for electricity production.
Port Arthur LNG is a natural gas liquefaction and export terminal in southeast Texas with direct access to the Gulf of Mexico, with Phase 1 under construction and Phase 2 a site expansion that will include the addition of up to two trains. capable of producing up to 13 million tons per year. EFECOM
cgs/may
