TotalEnergies, Sempra expand alliance for development of LNG exports and renewables

In France, TotalEnergies and Sempra are expanding their North American strategic alliance with the signing of two Memorandums of Understanding: one for the Vista Pacífico LNG export project in Mexico and the other for the co-development of several onshore and offshore renewables projects.

The Vista Pacífico LNG project is planned to be a mid-scale facility on Mexico’s west coast, well-situated for exporting to high-demand markets such as Asia and South America. Sempra signed a non-binding agreement with Comisión Federal de Electricidad, Mexico’s state-owned electric company, for the potential joint development of this project. The MoU signed with Sempra provides for TotalEnergies to offtake one-third of its future LNG production, and to become a shareholder in the project with a minimum stake of 16.6%.

The second MoU provides for the co-development of several renewable energy projects in North America, including:

• Sempra’s potential acquisition of 30% of TotalEnergies’ equity interest in an offshore wind project off the coast of California that is preparing for an upcoming auction.
• TotalEnergies’ potential acquisition of 30% of Sempra’s equity interest in certain onshore renewable projects under development along the Mexico-U.S. border.