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Sempra Inks Multi-Year LNG Sale, Purchase Agreement with RWE

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(RTTNews) – Sempra Infrastructure, a branch of Sempra Energy (SRE), announced on Wednesday that it has signed a long-term sale and purchase agreement with RWE Supply & Trading, a subsidiary of RWE AG (RWE), to supply approximately 2.25 million tonnes per year of liquefied natural gas, or LNG, from the Port Arthur LNG Phase 1 project under development in Jefferson County, Texas.

The LNG will be delivered free on board for 15 years.

The company said it is focused on meeting its goal of making a final investment decision for Phase 1 of the liquefaction project in the first quarter of 2023, with first cargo deliveries expected in 2027. Andree Stracke, CEO of RWE Supply & Trading, said: “Our partnership with Sempra Infrastructure, one of the leading LNG infrastructure companies in the United States, is another important step in diversifying Germany’s gas supply and thus contributes to strengthen security of supply in Europe in the long term…”

SRE is trading up 0.67% at $159.91 per share pre-market on the New York Stock Exchange.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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