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Always energy (NYSE: WED) announced on Wednesday that it has entered into a long-term purchase agreement with PKN Orlen, which recently acquired the Polish oil and gas company, for the supply of liquefied natural gas from the port Arthur LNG Phase 1 project under development in Texas.
Under the SPA agreement, PKN Orlen agrees to purchase 1 million metric tons per year of LNG from the project on a free basis for 20 years.
With the latest supply agreement, Sempra ( SRE ) said Port Arthur LNG Phase 1 is fully subscribed with 10.5 million tonnes per year under binding long-term contracts, and now expects to make a final investment decision on the project later this quarter.
Sempra (SRE) previously announced long-term contracts with ConocoPhillips, Inoes, Engie and RWE to sell and buy LNG from the proposed Phase 1 project.