Sempra (NYSE:SRE) confirmed Tuesday it reached a 20-year supply deal with ConocoPhillips (NYSE:COP) to provide 5M metric tons/year of liquefied natural gas from Phase 1 of the proposed Port Arthur LNG project under development in south Texas. ConocoPhillips (COP) also will acquire 30% of the equity in Phase 1 of Port Arthur LNG and will manage the feedgas supply requirements for Phase 1 of the proposed liquefaction facility. The planned $10.5B Phase 1 would be capable of producing as much as ~13.5M metric tons/year of liquefied natural gas, with cargoes expected to be delivered starting in 2027; a similarly sized Port Arthur LNG Phase 2 project also is under active marketing and development. Sempra (SRE) said recently it is expecting to make a final investment decision for Phase 1 in Q1 2023.