Sempra’s 1.46% Slide and 486th-Ranked $190M Volume Fuel 20-Year LNG Pact with ConocoPhillips

Sempra (SRE) fell 1.46% on August 25, with a trading volume of $0.19 billion, ranking 486th in market activity. The decline followed a strategic partnership announcement with ConocoPhillips to expand the Port Arthur LNG facility in Texas.

The energy infrastructure company and ConocoPhillips signed a 20-year agreement for 4 million metric tons per annum of LNG from the Port Arthur LNG Phase 2 project. This extends their collaboration beyond Phase 1, where ConocoPhillips already holds a 30% equity stake and 5 million metric tons of offtake capacity. Phase 2 will add two liquefaction trains, doubling the facility’s total capacity to 26 million metric tons annually. The project has secured key regulatory approvals, including FERC authorization in 2023 and U.S. Department of Energy export permits in 2025.

Sempra’s CEO emphasized the role of U.S. LNG in addressing global energy security needs, while ConocoPhillips highlighted the agreement as a step toward building a reliable supply network. The expansion requires finalizing commercial agreements, securing financing, and a 2025 investment decision. Sempra has already engaged Bechtel for Phase 2 construction and previously signed a 1.5 million metric ton agreement with JERA Co. Inc.

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