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Mergers & AcquisitionsMedium•1 May 2026•

1 min read

Sempra and ConocoPhillips Form Strategic Partnership for Port Arthur LNG Project

Key Facts

1Sempra announced a strategic partnership with ConocoPhillips for Phase 1 of the Port Arthur LNG project.

2The deal includes a 20-year agreement for 5 million tonnes per annum of LNG and ConocoPhillips acquiring a 30% equity stake.

Sempra has announced a landmark strategic partnership with ConocoPhillips to advance Phase 1 of the Port Arthur LNG project in Texas. Under the terms of the agreement, ConocoPhillips will acquire a 30% equity stake in the project, providing significant capital support for its development. The deal also includes a 20-year off-take agreement for 5 million tonnes per annum of liquefied natural gas. This collaboration is designed to streamline the path toward a final investment decision (FID) by securing feedgas supply management and long-term commitments. Bechtel Energy is expected to lead the infrastructure and construction efforts for the facility. This partnership underscores the robust outlook for U.S. LNG infrastructure amidst rising global energy demand.