Sempra Energy Strikes 20-Year LNG Supply Deal with Poland's PKN ORLEN
(Reuters) — Sempra Energy said on Wednesday it would supply 1 MTPA of LNG from its Port Arthur LNG Phase 1 project to Poland's PKN ORLEN SA for 20 years.
The deal is the latest in a series of long-term contracts for U.S. LNG after Western sanctions on major producer Russia following its invasion of Ukraine squeezed an already-tight global supply.
Sempra last year also struck deals with ConocoPhillips, INEOS, ENGIE and Germany's RWE for the sale and purchase of LNG from the proposed Phase 1 project.
RELATED: Sempra Inks 15-Year LNG Supply Deal with Germany’s RWE
With Wednesday's supply deal with PKN ORLEN, which recently acquired the Polish Oil & Gas Co, Sempra's Port Arthur LNG Phase 1 is fully subscribed with 10.5 MTPA under binding long-term agreements, the company said.
Sempra will now focus on completing the remaining steps needed to achieve making a final investment decision for the Port Arthur LNG Phase 1 project in the first quarter of 2023, with first cargo deliveries expected in 2027.
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