Sempra Infrastructure Partners has reached a final investment decision to advance the development, construction and operation of phase two of the Port Arthur LNG project in Texas.
Sempra said this new phase will include two natural gas liquefaction trains, one LNG storage tank, and associated facilities with a nameplate capacity of approximately 13 million tonnes per annum of US-produced LNG.
Incremental project capital expenditures at phase two are estimated at US$12 billion, plus an approximate US$2 billion payment for shared common facilities, with commercial operations expected in 2030 and 2031 for trains three and four, respectively.
Funding for phase two is supported by an equity investment led by Blackstone Credit and Insurance, together with an investor consortium including KKR, Apollo-managed funds and Private Credit at Goldman Sachs Alternatives. Together, these investors have acquired a 49.9 per cent minority equity interest for US$7 billion.
Sempra Infrastructure Partners has retained a 50.1 per cent majority stake in the project.
In addition to securing 100 per cent equity financing, Sempra Infrastructure Partners has contracted with global engineering, construction and project management firm Bechtel Energy, which has received full notice to proceed for the project.
