Sempra Infrastructure Partners, the 70%-owned unit of Sempra, would target 20% to 30% of indirect ownership interest in the project, subject to the closing of the KKR sale. Additionally, Sempra Infrastructure announced the closing of the project's $6.8 billion non-recourse debt financing and the issuance of the final notice to proceed under the project's engineering, procurement and construction agreement. This marks the second LNG FID within a week. U.S. LNG company Venture Global LNG said last week it would go forward with the second phase of its Plaquemines LNG export plant in Louisiana. Demand for U.S. LNG increased after several countries slowed purchases of Russian energy and imposed sanctions on Moscow after its invasion of Ukraine in February 2022. Sempra's unit has also finalized its joint venture with ConocoPhillips . The U.S. oil producer in November last year had said it would acquire a 30% non-controlling interest in the Port Arthur Phase 1 project in Texas through the JV. Sempra estimates the total capital expenditure for the 13.5-million tonnes per annum (MTPA) plant's Phase 1 at $13 billion. ConocoPhillips, units of Poland's Polski Koncern Naftowy Orlen SA , INEOS, ENGIE and Germany's RWE AG would together buy about 10.5 MTPA LNG from the Port Arthur plant under long-term agreements.
(Reporting by Ankit Kumar; Editing by Shilpi Majumdar)
