Aramco And Sempra Announced Respective Subsidiaries Executed Non-binding HoA For Equity And Offtake From Port Arthur LNG Phase 2; Financial Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Aramco and Sempra announced that their respective subsidiaries have executed a non-binding Heads of Agreement (HoA) for equity and offtake from the Port Arthur LNG Phase 2 project. Financial terms were not disclosed. The parties expect to finalize binding agreements with similar terms, subject to various conditions.
June 26, 2024 | 12:13 pm
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Sempra's subsidiary has signed a non-binding HoA with Aramco's subsidiary for equity and offtake from the Port Arthur LNG Phase 2 project. Binding agreements are expected soon, subject to conditions.
The non-binding HoA indicates a significant partnership and potential future revenue streams for Sempra. The expectation of binding agreements suggests a high likelihood of follow-through, positively impacting SRE's stock in the short term.
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