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Benzinga
Benzinga
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ConocoPhillips (COP) To Acquire Stake In Texas LNG Facility

COP ConocoPhillips NYSE Sempra Energy Texas Sempra PTEN Natural Gas TX Port Arthur

ConocoPhillips (NYSE:COP) signed an agreement with Sempra Energy (NYSE:SRE) to acquire a 30% stake in the latter's proposed liquefied natural gas (AMEX:LNG) facility in Port Arthur, TX.

The agreement represents a major expansion of ConocoPhillips' global LNG business through investment in a massive LNG facility currently being developed by Sempra Energy.

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