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Sempra Infrastructure, Poland's PGNiGin Sign Heads Of Agreement

Sempra Infrastructure, a subsidiary of Sempra (SRE), announced Monday that it has entered into a heads of agreement or HOA with Polish Oil & Gas Co. or PGNiG SA.

The deal is for the purchase of around 3 million tonnes per annum or Mtpa of liquefied natural gas or LNG delivered free-on-board from Sempra Infrastructure's portfolio of LNG projects in North America.

Sempra Infrastructure said the referenced HOA contemplates the negotiation and finalization of definitive 20-year LNG sale-and-purchase agreements for 2 Mtpa from the Cameron LNG Phase 2 project under development in Louisiana, and 1 Mtpa from the Port Arthur LNG project under development in Texas.

The HOA is a preliminary, non-binding arrangement, and the development of the Cameron LNG Phase 2 and Port Arthur LNG projects remains subject to a number of risks and uncertainties.

The HOA also provides PGNiG the opportunity in 2022 to reallocate volumes from the Cameron LNG Phase 2 project to the Port Arthur LNG project.

Sempra Infrastructure and PGNiG also expect to continue working toward a framework for the reduction, mitigation and reporting of greenhouse gas emissions across the LNG value chain.

Iwona Waksmundzka-Olejniczak, PGNiG SA president, said, "Here in Poland, LNG is already one of the cornerstones of our diversified strategy to enhance Polish energy security, as well as to strengthen the commercial potential of the PGNiG Group. We are determined to further expand our operations in this direction and are therefore taking steps to secure access to adequate natural gas volumes in the future."

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