Total, Sempra LNG, and IEnova have signed binding agreements finalising Total’s equity investment in the Energía Costa Azul LNG export project (ECA LNG), located in Baja California, Mexico.
Total now holds a 16.6% equity share of the project, for which the Final Investment Decision (FID) was taken last November for the development, construction, and operation of a single-train liquefaction facility with a nameplate capacity of 3.25 million tpy of LNG and an expected start in 2024. Last April, Total also closed a 20-year offtake agreement for 1.7 million tpy of LNG.
“We are very pleased to further strengthen our partnership with Sempra En-ergy through our participation in the ECA LNG project, that benefits from brownfield synergies with existing facilities and from the proximity to Asian markets,” said Philippe Sauquet, President Gas, Renewables & Power at Total. “This investment is in line with our strategy to grow our LNG integrat-ed portfolio across the entire gas value chain, which is a key to meet a growing global demand for energy while decreasing the carbon intensity of the products sold to our customers.”
ECA LNG is owned by Sempra LNG (41.7%), IEnova, Sempra Energy's subsidiary in Mexico (41.7%), and Total (16.6%).
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/11122020/total-closes-its-participation-in-eca-lng/