Sempra ( NYSE: SRE ) said Thursday that Port Arthur LNG and Bechtel have amended the engineering, procurement and construction contract for the proposed Phase 1 liquefaction project in Texas, which includes an updated price of ~$10.5B .
Port Arthur LNG Phase 1 is permitted and expected to include two natural gas liquefaction trains and liquefied natural gas storage tanks, and associated facilities capable of producing as much as 13.5M metric tons/year of LNG; a similarly sized Port Arthur LNG Phase 2 project is under active marketing and development.
Earlier this year, Sempra Infrastructure ( SRE ) announced the substantial completion of marketing for Phase 1.
Sempra ( SRE ) stands to benefit from Russia's curtailment of natural gas supplies to Europe, Yannick Frey writes in an analysis published on Seeking Alpha .
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Sempra's final contract to build Port Arthur LNG project totals ~$10.5B