INEOS has signed a 20-year contract with Sempra Infrastructure for the supply of 1.4 million tonnes per annum (mtpa) of liquified natural gas (LNG) from Phase 1 of the Port Arthur LNG facility under development in Texas, US. The agreements come at a critical time for energy markets and will provide much needed security of supply for Europe.
Under the agreement INEOS has agreed to purchase approximately 1.4 mtpa. The first deliveries are expected in 2027.
Brian Gilvary Chairman, INEOS Energy says: ‘This long-term contract with Sempra Infrastructure and the agreement of regasification capacity in Brunsbuettel, secures the key areas of the value chain for INEOS across the Atlantic corridor and represents a major step forward in the INEOS Energy journey, at a time of significant transformation in the energy industry.’
‘We are excited to finalise our commercial relationship with INEOS as a valued long-term LNG off-taker for the Port Arthur LNG Phase 1 development project. We look forward to advancing this project so we can begin delivering new supplies of U.S. LNG to our European partners, as they pursue more secure energy for their customers,’ adds Justin Bird CEO of Sempra.
