ConocoPhillips ( COP - Free Report ) has strengthened its position in the global liquefied natural gas (LNG) market by announcing a major supply agreement with Sempra Infrastructure. Under the deal, the Houston-based oil and gas producer will purchase 4 million tons per annum (MTPA) of LNG from Sempra's Port Arthur LNG Phase 2 project in Texas over a 20-year term. The contract, structured on a free-on-board basis, is intended to serve growing global demand with shipments directed to key markets in Europe and Asia.