Q1 North America LNG projects update: Sempra nears FID at Costa Azul LNG

For developers of shovel-ready projects in the US Gulf Coast, commercial progress this year could be slow. The current market environment makes it especially difficult for large-scale projects needing to sell a significant amount of capacity in order to move forward. That problem potentially puts Sempra in a different position at Costa Azul. The first phase is a mid-scale, brownfield redevelopment requiring around a quarter of the capex of a large-scale, greenfield Gulf Coast project. Sempra needs to finalise sale and purchase agreements with the project's three buyers - Mitsui, Tokyo Gas and Total - and construction on Mexico's first LNG export project should shortly follow.