Saudi Aramco struck a deal with U.S. Sempra Energy to buy 5 million tons of liquefied natural gas annually from Sempra’s Port Arthur LNG plant, Reuters reports , citing the two companies, which confirmed an earlier report in the Wall Street Journal. The Port Arthur facility has yet to be built and Aramco has also negotiated a 25-percent stake purchase in its first phase of development. The project includes the construction of two liquefaction trains along with up to three storage tanks and the relevant infrastructure. Sempra has five LNG projects under development right now, in Louisiana, Texas, and Mexico, that together will have the capacity to produce 45 million tons of LNG, The company’s CEO told Reuters in March. That’s more than what Cheniere Energy, the current leader in this space, plans to have in terms of capacity at its two LNG plants in Sabine Pass and Corpus […]