Port Arthur IPPA Signed

Sempra and Aramco Move Closer to FID (NatGas Intel, Subscription)
Leticia Gonzales (Jan. 06): Sempra Energy and Saudi Aramco, have taken another step toward developing the Port Arthur LNG export project. Through its subsidiaries, the companies signed an Interim Project Participation Agreement (IPPA) that aligns their “interest in the overall success” of the project, Sempra CEO Jeffery Martin said. The agreement sets forth mechanisms for the two companies to work toward a FID. The IPPA follows a heads of agreement signed last May to purchase 5 mtpa of LNG and a 25% equity investment in the not-yet-sanctioned project.

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