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Stock impact report

Aramco and Sempra announce Heads of Agreement for equity and offtake from Port Arthur LNG Phase 2 [Yahoo! Finance]

DBA Sempra (SRE) 
Last dba sempra earnings: 2/27 06:55 am Check Earnings Report
US:NYSE Investor Relations: sempra.com/investors
Company Research Source: Yahoo! Finance
Sempra (NYSE: SRE) (BMV: SRE), one of North America's leading energy infrastructure companies, today announce that their respective subsidiaries have executed a non-binding Heads of Agreement (HoA) for a 20-year sale and purchase agreement (SPA) for liquefied natural gas (LNG) offtake of 5.0 million tonnes per annum (Mtpa) from the Port Arthur LNG Phase 2 expansion project. The HoA further contemplates Aramco's 25% participation in the project-level equity of Phase 2. The parties expect to execute a binding LNG SPA and definitive equity agreements with terms substantially equivalent to those in the HoA, with the SPA and equity agreements subject to a number of conditions. Nasir K. Al-Naimi , Aramco Upstream President, said: "We are excited to take this next step into the LNG sector. As a potential strategic partner in the Port Arthur LNG Phase 2 project, Aramco is well placed to grow its gas portfolio with the aim of meeting the world's growing need for lower-carbon sources of ene Show less Read more
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