Sempra reaches final investment decision on Port Arthur LNG plant's Phase 1

  • 📰 Reuters
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

U.S. power and gas utility Sempra Energy said on Monday the first phase of its proposed Port Arthur liquefied natural gas (LNG) export terminal received the financial greenlight to move ahead with investment firm KKR & Co agreeing to a minority stake in the project.

Though KKR's investment was not disclosed, an infrastructure fund managed by it will buy a 25% to 49% indirect, non-controlling interest in the project.

Sempra Infrastructure Partners, the 70%-owned unit of Sempra, would target 20% to 30% of indirect ownership interest in the project, subject to the closing of the KKR sale. 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.would go forwardDemand for U.S. LNG increased after several countries slowed purchases of Russian energy and imposed sanctions on Moscow after its invasion of Ukraine in February 2022.. The U.S.

Sempra estimates the total capital expenditure for the 13.5-million tonnes per annum plant's Phase 1 at $13 billion.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Spanish company drops LNG terminal in New Brunswick citing high costs to ship gasThe Spanish company behind a proposal to export liquefied natural gas to Europe through a terminal in Saint John, N.B., has announced it will not go ahead with the project because the costs are too high. cdnpoli
Source: TheStarPhoenix - 🏆 253. / 63 Read more »

Legendary Gino's Pastry Shop on Arthur Avenue denied small business loansGino's Pastry Shop on Arthur Avenue is best known for a few things -- its homemade authentic treats and the quality time people have enjoying them. But the Bronx business is in financial trouble. ShoshBedrosian explains why.
Source: CBSNewYork - 🏆 268. / 63 Read more »