Current SRE Stock Info

A non-binding memorandum of understanding was signed today between Sempra LNG, a unit of Sempra Energy (ticker: SRE), and Woodside Petroleum (ticker: ASX:WPL) to discuss and asses the possibility of developing Sempra’s proposed Port Arthur liquefaction project, according to a press release.

The proposed project would be located at a site previously permitted for an LNG regasification terminal and would be designed to include two liquefaction trains with a total export capability of approximately 10 million tons per annum, or 1.4 billion cubic meters per day (Bcm/d), as well as storage tanks and marine facilities for LNG ship berthing and loading.

Any decision to proceed with a binding agreement between the two companies for potential development of the project, including the establishment of any joint venture, would first require the completion of the project assessment and the necessary internal and external approvals for both Woodside and Sempra, the companies said.

Woodside has development and operations experience in the LNG industry with the North West Shelf and Pluto projects in Australia. Sempra LNG is lead sponsor of the Cameron liquefaction project in Louisiana. TX-LA-LNG-plants

In March 2015, Sempra LNG’s affiliate, Port Arthur LNG, LLC, initiated the Federal Energy Regulatory Commission pre-filing review for the proposed natural gas liquefaction facility and filed its permit application with the U.S. Department of Energy for authorization to export LNG produced from the proposed project to all current and future Free Trade Agreement countries.

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