09:06 AM EDT, 06/26/2024 (MT Newswires) -- Sempra ( SRE ) and Aramco said Wednesday that their subsidiaries have signed a non-binding heads of agreement, or HOA, for the Port Arthur LNG Phase 2 expansion project.

The HOA includes a 20-year sale and purchase agreement for liquefied natural gas offtake of 5 million tonnes per annum from the Port Arthur LNG Phase 2 expansion project, a planned expansion of the Port Arthur natural gas liquefaction and export terminal in southeast Texas.

The agreement also includes Aramco's potential 25% equity participation in the project, the companies said. The parties aim to finalize binding agreements with similar terms, subject to various conditions, they added.

Price: 75.53, Change: +0.09, Percent Change: +0.12