May 5 (Reuters) - U.S. energy company Sempra Energy (SRE.N) will probably move its planned final investment decision (FID) on the Port Arthur liquefied natural gas export plant in Texas from. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees. "We're proud to partner with Sempra to deliver a world-class LNG facility. Sempra Announces Partnership Framework with ConocoPhillips Sempra Infrastructure announced an agreement whereby KKR will acquire a 25% to 49% indirect, non-controlling interest in the Port Arthur LNG Phase 1 project. Saudi Aramco Buys Into Port Arthur LNG - JPT These reports are available through the EDGAR system free-of-charge on the SECs website, Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and Infraestructura Energtica Nova, S.A.P.I. We appreciatemore than anything improving our Highway 87 going into Sabine Pass, Mayor Thurman Bartie told Prasser during the digital meeting. Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and Infraestructura Energtica Nova, S.A.P.I. "ConocoPhillips has more than 60 years of experience with LNG, and we look forward to continuing to build our LNG portfolio and expanding our role in delivering a lower-carbon future that strengthens U.S. and global energy security.". Mit Ihrer Anmeldung erklren Sie sich damit einverstanden, Inhalte von uns zu erhalten. Additionally, Sempra Infrastructure announced the closing of the projects$6.8 billionnon-recourse debt financing and the issuance of the final notice to proceed under the projects engineering, procurement and construction agreement. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "intends," "anticipates," "contemplates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "initiative," "target," "outlook," "optimistic," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. (Source: Wirestock Creators / Shutterstock.com). Additionally, Sempra Infrastructure announced the closing of the project's $6.8 billion non-recourse debt financing and the issuance of the final notice to proceed under the project's engineering, procurement and construction agreement. Consistent with KKR Infrastructure's strategy of seeking stable and predictable returns for investors, our investment in Phase 1 is backed by robust cash flows through long-term contracts with high-quality counterparties.". Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include risks and uncertainties relating to: These risks and uncertainties are further discussed in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC). For more information about Sempra Infrastructure, please visitwww.SempraInfrastructure.comandTwitter. "Texas House District 21 is proud of this latest development that showcases our great state's leadership in economic development, job creation and energy production.". Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees. "At Sempra, we believe bold, forward-looking partnerships will be central to solving the world's energy security and decarbonization challenges," said Jeffrey W. Martin, chairman and chief executive officer of Sempra. Moreover, the company focuses its community development initiatives on local priorities including education and leadership development, environmental stewardship and safety. Footnotes 1. 1 Employer for Diversity Among U.S. Utilities by DiversityInc, Sempra Shaping a Better Future for Generations to Come. Earlier this year, Sempra Infrastructure announced the substantial completion of marketing for Phase 1 of the proposed Port Arthur LNG Project with the signing of a series of non-binding . These statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "intends," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "potential," "possible," "proposed," "target," "pursue," "goals," "outlook," "maintain" or similar expressions, or discussions of guidance, strategies, plans, goals, opportunities, projections, initiatives, objectives or intentions. 2023 Hart Energy. Port Arthur LNG, LLC, et. Please Note: Please include all related documents and attachments (e.g., . KKR is making the investment primarily through its Global Infrastructure Investors IV fund. Investor's Business Daily named Sempra the top-ranked utility in the U.S. for environmental, social and governance scores and financial performance. even as competing projects such as Port . Sempra Infrastructure is targeting 20% to 30% of indirect ownership interest in the project, subject to the closing of the KKR sale. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Demand for natural gas and specifically for Liquefied Natural Gas (LNG) is increasing as the world looks for lower cost. We have made significant progress on advancing development at Port Arthur LNG, where we now expect to take a final investment decision on Phase 1 in the first quarter of next year, Sempra Chairman and CEO Jeffrey W. Martin said Nov. 3 in a press release related to companys third-quarter earnings. These risks and uncertainties are further discussed in the reports that Sempra has filed with the Securities and Exchange Commission. 10 Following completion of the pre-filing process, on February 19, 2020, PALNG Phase II and its affiliate PALNG Common . Last year Jim Thompson, permit and compliance manager with Sempra LNG, told The News that peak construction of the Port Arthur facility would require the employment of approximately 5,000 people, many being from the area. These statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "intends," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "potential," "possible," "proposed," "target," "pursue," "goals," "outlook," "maintain" or similar expressions, or discussions of guidance, strategies, plans, goals, opportunities, projections, initiatives, objectives or intentions. **Project is under development or construction. The Port Arthur LNG Phase 1 project is fully permitted and is designed to include two natural gas liquefaction trains, two liquefied natural gas (LNG) storage tanks and associated facilities with a nameplate capacity of approximately 13 MMtpy. Sempra, ConocoPhillps announce agreement to develop PALNG - KBMT Port Arthur LNG updates road completion, final decision timelines We create sustainable value through world-class safety, championing people, resilient operations and enabling the global energy transition to a lower-carbon future. With strong customers, top-tierequity sponsors in ConocoPhillips and KKR and a world class contractor in Bechtel, this project has the potential to become one of Americas most significant energy infrastructure investments over time, while creating jobs and spurring continued economic growth acrossTexasand the Gulf Coast region., Sempras selection ofPort Arthuras the location for a new natural gas liquefication and export terminal is a strategic decision that will cementTexasposition as the energy capital of the world, saidTexasGov. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or SoCalGas, nor regulated by the CPUC. Sign up to get PRNs top stories and curated news delivered to your inbox weekly! Building from mature, scalable energy technologies helps safeguard our energy supplies and promote the transition to lower-carbon energy, saidBrendan Bechtel, Chairman and CEO of Bechtel. Sempra Launches Port Arthur LNG Project Exclusive news, data and analytics for financial market professionals, Reporting by Sabrina Valle Sempra launches Port Arthur LNG Project - BIC Magazine Since 2015, Port Arthur LNG has invested more than$40 millionto supportJefferson Countycommunities, including working with local vendors to procure materials and services for the relocation of a 3.5-mile portion of Highway 87 and on grants to more than 60 local non-profits, schools and business development groups. For illustrative purposes, if Sempra Infrastructure's indirect ownership interest is at the midpoint of the referenced range, or 25%, Sempra Infrastructure would expect its share of average adjusted EBITDA after full commercial operations to be approximately $410 million annually and its equity commitment to be approximately $1.55 billion. As the owner of one of the largest energy networks on the continent, Sempra is helping to electrify and decarbonize some of the world's most significant economic markets, including California, Texas, Mexico and the LNG export market. A similarly sized Port Arthur LNG Phase 2 project is under active marketing and development. As the owner of one of the largest energy networks on the continent, Sempra is helping to electrify and decarbonize some of the world's most significant economic markets, including California, Texas, Mexico and the LNG export market. They involve risks, uncertainties and assumptions. "Sempra has long been an economic driver for Jefferson County here in Southeast Texas, and this new Port Arthur LNG facility will continue that trend by bringing thousands of jobs, new markets for natural gas and more energy security for our nation," Speaker of the Texas House of Representatives Dade Phelan said. Sempra also noted it continues to advance its Cameron LNG Phase 2 project. Were proud to partner with Sempra to deliver a world-class LNG facility. Additional details about these transactions can be found in the current report on Form 8-K Sempra filed with the U.S. Securities and Exchange Commission onMarch 20, 2023, as well as in the informational slides on the Investors section of Sempras website atsempra.com/investors. and the completion of construction of Port Arthur LNG Phase 1 is subject to a number of risks and . Port Arthur LNG is a proposed natural gas liquefaction and export terminal in Southeast Texas with direct access to the Gulf of Mexico. Sempra Infrastructure is also actively marketing and developing the competitively positioned Port Arthur LNG Phase 2 project, which is expected to have similar offtake capacity to Phase 1. For the third quarter, Sempra announced adjusted earnings of $622 million, up compared to $545 million the previous-year quarter. 2023 Sempra Infrastructure. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and Infraestructura Energtica Nova, S.A.P.I. The successful completion of the KKR sale is subject to regulatory approvals and other customary closing conditions, and the completion of construction of Port Arthur LNG Phase 1 is subject to a number of risks and uncertainties. The Port Arthur liquefaction project is being developed to help meet global demand for LNG, according to the Port Arthur LNG website, which notes that the proposed liquefaction project. Please disable your ad-blocker and refresh. Sempra Infrastructure is targeting 20% to 30% of indirect ownership interest in the project, subject to the closing of the KKR sale. Energy news, analysis, interviews, and exclusive coverage you need to keep your industry edge. The amended EPC between Port Arthur LNG and Bechtel Energy includes an updated price of approximately $10.5 billion, Sempra said last month. March 20, 2023 4:52 PM RSS Print Sempra announced that its 70%-owned subsidiary, Sempra Infrastructure Partners, LP (Sempra Infrastructure), reached a positive final investment decision for the development, construction and operation of the Port Arthur LNG Phase 1 project in Jefferson County, Texas. The Phase 1 project is another significant opportunity to expand Sempra Infrastructure's economic impact. About us - Port Arthur LNG If you have an ad-blocker enabled you may be blocked from proceeding. Greg Abbott. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. The Phase 1 project is another significant opportunity to expand Sempra Infrastructures economic impact. SAN DIEGO, March 20, 2023 /PRNewswire/ --Sempra(NYSE: SRE) (BMV: SRE) today announced that its 70%-owned subsidiary, Sempra Infrastructure Partners, LP (Sempra Infrastructure), reached a positive final investment decision (FID) for the development, construction and operation of the Port Arthur LNG Phase 1 project in Jefferson County, Texas. "Sempra has long been an economic driver for Jefferson County here in Southeast Texas, and this new Port Arthur LNG facility will continue that trend by bringing thousands of jobs, new markets for natural gas and more energy security for our nation," Speaker of the Texas House of Representatives Dade Phelan said. The long-term contractable capacity of approximately 10.5 Mtpa is fully subscribed under binding long-term agreements with strong counterparties ConocoPhillips, RWE Supply and Trading, PKN ORLEN S.A., INEOS and ENGIE S.A., all of which became effective upon reaching FID. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and Infraestructura Energtica Nova, S.A.P.I. The Phase 1 proposed project facilities are anticipated to include up to two natural gas liquefaction trains capable of producing, under optimal conditions, up to approximately 13.5 mtpa; as well as the construction of new natural gas pipelines to deliver . Sempra and ConocoPhillips closed their joint venture whereby an affiliate of ConocoPhillips has acquired a 30% non-controlling interest in the project, is purchasing 5 Mtpa of LNG offtake from the project under a 20-year sale and purchase agreement and is managing the projects overall natural gas supply requirements. The Port Arthur LNG Phase 1 project is fully permitted and is designed to include two natural gas liquefaction trains, two liquefied natural gas (LNG) storage tanks and associated facilities with a nameplate capacity of approximately 13 million tonnes per annum (Mtpa). See here for a complete list of exchanges and delays. 20 October 2022 18:19 GMT Updated 21 October 2022 11:52 GMT de C.V. (IEnova) are not the same companies as the. Expanding LNG is imperative to American energy security, and theState of Texaslooks forward to working alongside Sempra to advance this mission and bring more jobs and greater opportunities to hardworking Texans.. Texas House District 21 is proud of this latest development that showcases our great states leadership in economic development, job creation and energy production.. Back to Citation 2. "Bechtel has a record of delivering LNG infrastructure on the U.S. Gulf Coast and bringing quality jobs and training opportunities to local communities. The Port Arthur LNG Phase 1 project is fully permitted and is designed to include two natural gas liquefaction trains, two liquefied natural gas (LNG) storage tanks and associated facilities with a nameplate capacity of approximately 13 million tonnes per annum (Mtpa). These forward-looking statements represent our estimates and assumptions only as of the date of this press release. Port Arthur LNG Phase 2 would expand the liquefaction-export project with two additional liquefaction trains (Trains 3 and 4) capable of producing an additional 13.5 mtpa under optimal conditions. This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Texas 87, Prasser said, was falling into the ship channel when Phase 1 began. Active marketing and development is underway regarding the similarly sized Port Arthur LNG Phase 2 project, the company said. Since 2015, Port Arthur LNG has invested more than $40 million to support Jefferson County communities, including working with local vendors to procure materials and services for the relocation of a 3.5-mile portion of Highway 87 and on grants to more than 60 local non-profits, schools and business development groups. Port Arthur LNG Terminal - Global Energy Monitor Investors should not rely unduly on any forward-looking statements. The foregoing estimates exclude other potentially significant economic benefits associated with, among other items, the development of future phases and further optimization of the project. It also has provided upgrades to the citys waterline. "With a highly skilled workforce and business-friendly climate, and as a national leader in LNG exports, Texas is the prime location to expand LNG operations to unleash the United States' full economic potential in such a critical industry. Sempra Infrastructure has contracted with global engineering, construction and project management firm Bechtel Energy Inc. and has issued a final notice to proceed for the project. Building from mature, scalable energy technologies helps safeguard our energy supplies and promote the transition to lower-carbon energy," said Brendan Bechtel, Chairman and CEO of Bechtel. Will ConocoPhillips Play Spoiler to Suncors $4B TotalEnergies Deal? The expected commercial operation dates for Train 1 and Train 2 are 2027 and 2028, respectively. The 5,000 construction jobs this project creates will provide outstanding opportunities for craft professionals growing a skilled workforce that will benefit the region for years to come.. Port Arthur LNG requested more time because the project "was impacted by the adverse market conditions and logistical delays caused by the COVID-19 pandemic," including the pandemic's effects on the global supply chain and the impact on global LNG demand. Robust shale gas production from key U.S. basins, especially the Permian Basin, continues to anchor rising U.S. LNG exports to world markets including Europe, the U.K. and Asia as lower supply flows from the now sanctioned Russia after Moscows decision to invade Ukraine earlier this year. Between 2019 and 2020, organizers with the multibillion-dollar liquefied natural gas project underway in Sabine Pass have given nearly $500,000 to local non-profits and economic development organizations, Sempra LNG representative Kelly Prasser said this week in a presentation to the Port Arthur City Council. 2023-03-21 - EnCap private equity veteran Brad Thielemann discusses the role of private equity in traditional oil and gas investing including the need to ramp up investments to meet demand as well as its trajectory for financing the transitions ahead. 15-53-LNG, and to Non-FTA counties in Docket . The foregoing estimates exclude other potentially significant economic benefits associated with, among other items, the development of future phases and further optimization of the project. The state of where we are today and working through COVID, were very proud of the 1.2 million (work) hours without incident, Prasser told the Council. , . Information on assets, buyers and sellers, deal values, and more. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. Updated Bechtel Port Arthur LNG Deal Worth $10.5B | Rigzone Sempra was also included on the Dow Jones Sustainability North America Index for the 12th consecutive year. Sempra amends $10.5 billion contract for Port Arthur LNG If Port Arthur contractors can earn a living wage with your company, it would be an even greater testament of what you do, Bartie said. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Total capital expenditures for the Port Arthur Phase 1 project are estimated at $13 billion. Pietro Donatello Pitts is the International Managing Editor for Hart Energy covering primarilyLatin America as well as Europe, Asia, and Africa. Expansion - Port Arthur LNG At Sempra Infrastructure, we deliver energy for a better world. Saudi Aramco has agreed to purchase a 25% share of a multibillion-dollar LNG export terminal currently being developed by Sempra Energy in Port Arthur, Texas. By signing up you agree to receive content from us. Port Arthur LNG is a proposed natural gas liquefaction and export terminal in Southeast Texas with direct access to the Gulf of Mexico. The Port Arthur LNG Phase 1 project is permitted and expected to include two natural gas liquefaction trains and LNG storage tanks, and associated facilities capable of producing, under. KKR is making the investment primarily through its Global Infrastructure Investors IV fund. Sempra Launches Port Arthur LNG Project Additional details about these transactions can be found in the current report on Form 8-K Sempra filed with the U.S. Securities and Exchange Commission on March 20, 2023, as well as in the informational slides on the Investors section of Sempra's website at sempra.com/investors. These risks and uncertainties are further discussed in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC). Sempra's share of the above estimates would be equal to 70% of these amounts. As developers and operators of LNG facilities and pipelines, Sempra Infrastructure is working to deliver a high-value, reliable and low-cost liquefaction facility in North America to export U.S. natural gas to global LNG markets. "We have made significant progress on advancing development at Port Arthur LNG, where we now expect to take a final . Sempra Infrastructure closed its joint venture with an affiliate of ConocoPhillips (NYSE: COP), as well as announced an agreement to sell an indirect, non-controlling interest in the project to an infrastructure fund managed by KKR. Cision Distribution 888-776-0942 "At Sempra, we believe bold, forward-looking partnerships will be central to solving the world's energy security and decarbonization challenges," said Jeffrey W. Martin, chairman and chief executive officer of Sempra. Port Arthur Pipeline, LLC, 173 FERC 61,073 (2020). Future results may differ materially from those expressed in the forward-looking statements. "ConocoPhillips has more than 60 years of experience with LNG, and we look forward to continuing to build our LNG portfolio and expanding our role in delivering a lower-carbon future that strengthens U.S. and global energy security.". Phase 2, which also is underway, includes prepping the site for development by adding a dock to receive equipment needed for construction. FERC grants more time for Port Arthur LNG project completion For more information about Sempra Infrastructure, please visit www.SempraInfrastructure.comand Twitter. In partnership with Port Arthur News, Port Arthur LNG held its third annual Environmental Champions ceremony this week, awarding grants Finalizes Joint Venture with ConocoPhillips Closes Non-Recourse Project Financing Announces Equity Participation by KKR Issues Final Notice to Proceed to At Port Arthur LNG, our goal is to build a world-class facility to provide abundant, clean, reliable and affordable U.S. HOUSTON, Dec. 6, 2022 Sempra Infrastructure, a subsidiary ofSempra(NYSE: SRE) (BMV: SRE), today announced it has entered into a Texas Senator Brandon Creighton, District 4, Texas Representative Dade Phelan, Beaumont, Texas, Judge Jeff Branick, Jefferson County, Texas, Pat Avery, President & CEO, Port Arthur Chamber of Commerce, Sinclair Oubre, Executive Director, Port Arthur International Seafarer's Center, Local Business Partner Spotlight: Fast Signs Nederland/Port Arthur, Employee Spotlight Port Arthur LNGs Community Outreach Specialist, Announcing Port Arthur LNGs 2023 Environmental Champions, Port Arthur LNG: 2022 Community Impact Report, Sempra Infrastructure Announces Agreement with ENGIE for Supply of U.S. LNG from Port Arthur LNG Phase 1. Sempra Eyes Port Arthur LNG FID in Early 2023 | Hart Energy Prices for top E&P stocks and commodities. The Port Arthur LNG representative said the aforementioned installations were done using local vendors, and cost more than $38 million. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) is a non-GAAP financial measure (GAAP is generally accepted accounting principles). Additional details about these transactions can be found in the current report on Form 8-K Sempra filed with the U.S. Securities and Exchange Commission on March 20, 2023, as well as in the informational slides on the Investors section of Sempra's website at sempra.com/investors. The 5,000 construction jobs this project creates will provide outstanding opportunities for craft professionals growing a skilled workforce that will benefit the region for years to come.". This website contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Sempra Infrastructure is not the same company as San Diego Gas & Electric (SDG&E) or Southern California Gas Co. (SoCalGas), and Sempra Infrastructure is not regulated by the California Public Utilities Commission. 2023-04-25 - Occidental and ET Power LLC has increased their investments in Rice Acquisition Corp. by $625 million. The Sempra family of companies has more than 19,000 talented employees who deliver energy with purpose to over 36 million consumers. That projected growth rate, however, is much lower than the 11%-12% annual increases seen in 2017-2019, according to data provider Refinitiv and other sources. The HOA also contemplates a 30% equity investment in Phase 1 of Port Arthur LNG by ConocoPhillips and the potential for ConocoPhillips to supply additional natural gas to the proposed facility . "Phase 1 will create new jobs, support American economic growth and deliver reliable and cleaner energy during the global energy transition. Sempra Infrastructure, an affiliate of San Diego-based Sempra, plans to take a final investment decision (FID) on Phase 1 of its two-train 13.5 million ton per annum Port Arthur LNG project in the first quarter of 2023. from 8 AM - 9 PM ET. The company is also consistently recognized as a leader in sustainable business practices and for its long-standing commitment to building a high-performance culture focused on safety and operational excellence, leadership and workforce development and diversity and inclusion. Phase 1 will create new jobs, support American economic growth and deliver reliable and cleaner energy during the global energy transition. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "intends," "anticipates," "contemplates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "initiative," "target," "outlook," "optimistic," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations.
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