INEOS Energy has signed a heads-of-agreement with Sempra Infrastructure for the potential supply of 1.4m tonnes per annum of LNG from North America for 20 years.
LNG will be delivered free-on-board, from either the proposed Port Arthur LNG Phase 1 project or the Cameron LNG Phase 2 projects.
The long-term agreement marks INEOS’ entry into the global liquified natural gas (LNG) market. The company is a first mover among European corporates as it secures competitive sources of energy to meet its own needs and those of its customers throughout the energy transition. INEOS intends to build partnerships with other industrial users of energy in Europe to help them access the same competitive sources of energy.
INEOS is committed to achieving net zero by 2050 across its operations. The company is working to decarbonise the supply chain through carbon capture and storage and provide optionality for alternative sources of energy such as its leadership in the production of hydrogen.
The agreement is a preliminary non-binding arrangement, and the development of the Port Arthur LNG and Cameron LNG Phase 2 projects are subject to securing all necessary permits, signing engineering and construction contracts, obtaining financing and a final investment decision.
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