Sempra Infrastructure and YPF Advance Major LNG Export Projects

Two major energy infrastructure developments are advancing in the Americas. Sempra Infrastructure signed a 20-year sales and purchase agreement with Petrobras to supply approximately 0.8 million tonnes per annum of liquefied natural gas. The gas will be sourced from the Port Arthur LNG Phase 2 project in Texas, which is currently under construction. This deal marks the first time a South American company has joined Sempra's customer portfolio. The Port Arthur facility is being developed in stages, with Phase 1 starting operations in late 2027 and 2028, and Phase 2 projected for 2030 and 2031, eventually doubling total capacity to 26 Mtpa.

Simultaneously, Argentina's state-controlled energy company YPF is nearing the signing of two to three LNG sales agreements for its $24 billion Argentina LNG project. CEO Horacio Marín announced at the Gastech conference in Bangkok that these contracts are expected to cover between 0.5 million and 1.5 million tonnes per year each. The project, a joint venture with Italy's Eni and Abu Dhabi's XRG, involves exporting gas from the Vaca Muerta shale formation via a 527-kilometer pipeline and two floating facilities in Río Negro province.

YPF partners are working toward a final investment decision in November. While full financing may not be finalized by then, Marín expects letters of intent from lenders, driven by Asian buyers seeking to diversify sources amid Persian Gulf supply disruptions.