TotalEnergies and Sempra have announced that they are expanding their North American strategic alliance with the signing of two Memorandums of Understanding (MoU): one for the Vista Pacífico LNG export project in Mexico and the other for the co-development of several onshore and offshore renewables projects.
The Vista Pacífico LNG project is planned to be a mid-scale facility on Mexico’s west coast, well-situated for exporting to high-demand markets such as Asia and South America. Sempra signed a non-binding agreement with Comisión Federal de Electricidad, Mexico’s state-owned electric company, for the potential joint development of this project. The MoU signed with Sempra provides for TotalEnergies to offtake one-third of its future LNG production, and to become a shareholder in the project with a minimum stake of 16.6%.
The second MoU provides for the co-development of several renewable energy projects in North America, including:
- Sempra’s potential acquisition of 30% of TotalEnergies’ equity interest in an offshore wind project off the coast of California that is preparing for an upcoming auction.
- TotalEnergies’ potential acquisition of 30% of Sempra’s equity interest in certain onshore renewable projects under development along the Mexico-US. border.
“We are pleased to further strengthen our partnership with Sempra in North America in LNG and to extend it to renewables. Over the past years, TotalEnergies has become the leading exporter of US LNG and has built up a pipeline of 4 GW of solar projects and 3 GW of offshore wind projects currently under development in the US,” said Patrick Pouyanné, Chairman & CEO of TotalEnergies. “This new step in our collaboration allow us to go further in our ambition to offer our customers sustainable, affordable and reliable energy, in line with our transformation into a global multi-energy company.”
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/31032022/totalenergies-and-sempra-expand-strategic-alliance/
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