TotalEnergies expands alliance with Sempra
French major TotalEnergies said March 31 it had expanded its strategic alliance with energy infrastructure company Sempra, with a pair of memoranda of understanding (MoU) related to the planned Vista Pacifico LNG project in Mexico and the other for several offshore and onshore renewables projects.
Earlier this year, Sempra signed a non-binding MoU with Mexico’s state-owned electric company to develop Vista Pacifico, a mid-scale liquefaction facility on Mexico’s west coast which would produce 3-4mn mt/yr of LNG. The MoU with Sempra provides for TotalEnergies to offtake one-third of the project’s future LNG production, and for the French company to take a minimum 16.6% equity stake in the project.
The second TotalEnergies/Sempra MoU provides for the potential acquisition by Sempra of 30% of TotalEnergies’ equity interest in an offshore wind project off the California coast and in certain onshore renewable projects under development along the US-Mexico border.
“We are pleased to further strengthen our partnership with Sempra in North America in LNG and to extend it to renewables,” TotalEnergies CEO Patrick Pouyanne said. “Over the past years, TotalEnergies has become the leading exporter of US LNG and has built up a pipeline of 4 GW of solar projects and 3 GW of offshore wind projects currently under development in the US.”
The two are already partners in Cameron LNG, a 12mn mt/yr export facility in Louisiana, and Energia Costa Azul LNG, a 3mn mt/yr facility under construction in Baja California, Mexico.