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Under the new SPA, EQT will buy 2 million tonnes per annum of LNG for 20 years, according to a joint statement.
EQT will purchase the LNG supplies on a free-on-board basis at a price indexed to Henry Hub.
This new deal comes just a week after ConocoPhillips agreed to buy a total of 80 million tonnes of LNG from the proposed second phase of the Port Arthur LNG project in Texas.
With this deal, ConocoPhillips will buy a total of 180 million tonnes of LNG from both Port Arthur phases.
In addition, Sempra executed a 20-year SPA with Japan’s Jera for 1.5 mtpa of offtake capacity from the second Port Arthur phase.
In March 2023, Sempra Infrastructure took a final investment decision for the first phase of its Port Arthur LNG export project worth about $13 billion.
Bechtel won the $10.5 billion EPC contract, which includes building two trains with a total capacity of about 13 mtpa and two storage tanks with a capacity of 160,000 cbm.
The expected commercial operation dates for train 1 and train 2 are 2027 and 2028, respectively.
Similarly, the Port Arthur LNG Phase 2 development project is expected to include two liquefaction trains capable of producing approximately 13 mtpa of LNG, increasing the total liquefaction capacity of the Port Arthur LNG facility to 26 mtpa.
Sempra confirmed on Wednesday that it continues to target making a financial investment decision on Phase 2 in 2025.
On the other hand, EQT continues to expand its LNG business with this deal.
Last year, EQT entered into a binding agreement for liquefaction services from Texas LNG’s planned facility in Brownsville to produce 2 mtpa of LNG under a 20-year tolling agreement.
Texas LNG is also targeting a final investment decision by the end of this year.