Aramco and Sempra announce Heads of Agreement for equity and offtake from Port Arthur LNG Phase 2

Core Insights - The planned expansion of Port Arthur LNG aims to enhance the distribution of U.S. natural gas globally, improving energy security and providing a lower-carbon alternative to coal for electricity production [2][3] - Sempra is recognized as a leader in sustainable business practices and operational excellence, serving nearly 40 million consumers across significant markets [3] - The Port Arthur LNG facility has the potential to expand to eight trains, positioning it as a major LNG export facility and addressing the demand for lower-carbon fuels [7][13] Company Overview - Sempra is a leading North American energy infrastructure company focused on delivering energy to nearly 40 million consumers, with a strong emphasis on electrification and energy resilience [3] - The company is included in the Dow Jones Sustainability Index North America and recognized in The Wall Street Journal's Best Managed Companies [3] - Sempra Infrastructure is advancing infrastructure projects within the Port Arthur Energy Hub, including the proposed Titan Carbon Sequestration project [7] Strategic Developments - Aramco is positioning itself as a strategic partner in the Port Arthur LNG Phase 2 project, aiming to grow its gas portfolio to meet the global demand for lower-carbon energy sources [7] - The Port Arthur LNG Phase 1 project is currently under construction, consisting of two trains and associated facilities, while Phase 2 will add up to two additional trains capable of producing up to 13 million tons per annum (Mtpa) [13]