Total, Sempra LNG and IEnova have signed binding agreements finalizing Total’s equity investment in the Energía Costa Azul liquefied natural gas 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 was taken last November for the development, construction and operation of a single-train liquefaction facility with a nameplate capacity of 3.25 million tonnes per annum (Mtpa) of LNG and an expected start in 2024. Last April, Total also closed a twenty-year offtake agreement for 1.7 Mtpa of LNG.
'We are very pleased to further strengthen our partnership with Sempra Energy 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 integrated 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%).