Post Tagged with: "Sempra Energy"

Source: Houston Chronicle

Gas ‘witch’s brew’ has U.S. exporters facing worst scenario

Houston Chronicle A global glut of natural gas has gotten so massive that U.S. exporters could soon face their worst-case scenario: Halting shipments to get supply and demand back in balance. Prices for the heating and power-plant fuel may collapse in Europe and Asia next year to levels that would force U.S. liquefied natural gas suppliers to curb output, Citigroup Inc. said in a note to clients last week. Morgan Stanley sees as much as 2.7 billion cubic feet a day of American exports curtailed around the second or third quarter, assuming normal weather. That’s about half the volume now being sent abroad. China’s demand for U.S. LNG has plunged amid the trade war, while Europe’s gas storage is almost full and tankers carrying the fuel are taking unusually long journeys in search of better prices. That’s created a “toxic witch’s brew” that’s making it harder to find a home[Read More…]

Photo: Melissa Phillip, Houston Chronicle / Staff Photographer

Sempra Energy, Mitsui enter deal for future expansions of two LNG export terminals

Houston Chronicle San Diego utility company Sempra Energy and Japanese industrial conglomerate Mitsui & Co. have entered into a memorandum of understanding to expand a liquefied natural gas export terminal in Louisiana and another in Baja California. The two companies are part of a consortium building three liquefied natural gas production units during the first phase of development at the Cameron LNG export terminal in southwest Louisiana. Under the memorandum, the companies have agreed to help each other build two more production units as part of a phase 2 expansion. Sempra and Mitsui also agreed to help each other develop an LNG export terminal at the already existing Energia Costa Azul import terminal along the Pacific Ocean south of Tijuana. Mitsui has agreed to buy up to one-third of the available capacity for phase 2 of Cameron LNG. The Japanese company also agreed to buy up to 1 million tons of[Read More…]

October 28, 2019 - 7:45 am Closing Bell Story, Energy News, LNG
Sempra Energy agrees to $2.23 billion sale

Sempra Energy agrees to $2.23 billion sale

Sempra Energy announces agreement to sell Chilquinta Energía in Chile. Transaction completes sale of equity interests in South American businesses. Sempra Energy (NYSE:SRE) today announced that it has entered into an agreement to sell its equity interests in its Chilean businesses, including its 100% stake in Chilquinta Energía S.A. (Chilquinta Energía), to State Grid International Development Limited (SGID). Sempra Energy’s interests will be sold for $2.23 billion in cash, subject to adjustments for working capital and net indebtedness and other adjustments. The sale also will include Sempra Energy’s 100% interest in Tecnored S.A., which provides electric construction and infrastructure services to Chilquinta Energía and third parties, and its 50% interest in Eletrans S.A., which owns, constructs, operates and maintains power transmission facilities. “This agreement is really important. It moves our company one step closer to completing the sale of our South American businesses and concentrating our investment strategy right here in North America,” said Jeffrey W.[Read More…]

October 14, 2019 - 9:55 am Closing Bell Story, International, LNG
Source: CatholicVoices.org

Mexico Expects to Save $4.5 Billion After Pushing Firms to Rework Pipeline Contracts

From Reuters Mexico’s government said on Tuesday it had persuaded companies to waive “significant” profits from natural gas pipeline deals signed under the previous administration after renegotiating the contracts to save taxpayers $4.5 billion. The deal announced by President Andres Manuel Lopez Obrador and the head of state-run power utility the Federal Electricity Commission (CFE) at a news conference will reduce what Mexico pays the firms to transport natural gas, the government said. The months-long dispute has caused diplomatic frictions with Canada in particular, aggravating concerns that Lopez Obrador, a veteran leftist who took office in December, could call into question contracts signed before he assumed the presidency. Flanked by Mexican industry leaders, including billionaire Carlos Slim, the country’s richest man, Mexico’s president championed the deal as a win for the public which would give certainty to investors and encourage growth. “To be very clear, we won because the rates[Read More…]

Source: CatholicVoices.org

Mexican President Pushes Hopes for Pipeline Deal into Next Week

From Reuters Mexican President Andres Manuel Lopez Obrador said on Thursday a deal could be reached next week with companies to end a contractual dispute over several natural gas pipelines, dialing back hopes for a quicker resolution. “It’s going well, that business,” Lopez Obrador told reporters at his regular morning news conference after the latest round of talks with companies on Wednesday. “And I expect that next week a deal will be reached.” The dispute over contracts signed under the last government involves firms including Canada’s TC Energy Corp, Mexico’s Grupo Carso, a company controlled by billionaire Carlos Slim, and IEnova, a Mexican unit of U.S. business Sempra Energy . Earlier this week, Lopez Obrador said an agreement might be possible as soon as this Thursday on the dispute, which has caused diplomatic tension with Canada in particular.     State-run power utility the Federal Electricity Commission (CFE) has driven[Read More…]

Source: Cameron LNG

Cameron LNG Commences Commercial Operations

By Tyler Losier, Energy Reporter, Oil & Gas 360 Train 1 of Sempra’s Cameron LNG project commences commercial operations Sempra LNG, a subsidiary of San Diego-based Sempra Energy (stock ticker: SRE), has begun commercial operations under tolling agreements at Train 1 of its Cameron LNG liquefaction-export project in Hackberry, Louisiana. Previously, Sempra’s Cameron LNG facility had shipped its first commissioning cargo at the end of May of this year. The Cameron LNG facility (source: Cameron LNG) “This is an exciting moment for Cameron LNG and for Sempra Energy,” said Carlos Ruiz Sacristan, chairman and CEO of Sempra North American Infrastructure. “Cameron LNG is exporting liquefied natural gas (LNG) to customers in the… Login or click here to subscribe Username or E-mail Password Remember Me     Forgot Password

Source: Bloomberg

Tropical Storm Barry Puts 70% of Newly Minted U.S. LNG Capacity at Risk

From Bloomberg Sabine Pass, Cameron terminals may be in Barry’s path, U.S. natural gas exports have soared amid shale boom Tropical Storm Barry is highlighting the risks that Gulf of Mexico storms pose to America’s newly expanded liquefied natural gas export capacity. Cheniere Energy Inc.’s Sabine Pass export terminal and Sempra Energy’s just-built Cameron facility are potentially in the path of the storm as it churns toward Louisiana. Together, the terminals account for about 70% of America’s capacity to ship LNG overseas. Two gas tankers are waiting to approach Sabine Pass, while a third recently departed, according to ship tracking data compiled by Bloomberg. Another terminal, Venture Global LNG Inc.’s Calcasieu Pass in Cameron Parish, is under construction. Sabine Pass continues to operate and Cheniere doesn’t expect major impacts to operations from Barry, the company said Thursday. Gas flows to the facility via pipeline have dropped about 20% since July[Read More…]

Oil & Gas 360 - France’s Total and Sempra Energy Sign North America LNG Deal

Sempra’s New VP Talks LNG – an Oil & Gas 360 Exclusive

By Tyler Losier, Energy Reporter, Oil & Gas 360 Sempra names Brian L. Kelly VP of federal government affairs Sempra Energy (stock ticker: SRE), an energy infrastructure company with an increasingly prevalent foothold in the LNG business, has appointed Brian L. Kelly as its new vice president of federal government affairs. Kelly will be based in Washington D.C. and will serve as the leader of Sempra’s federal legislative and regulatory activities. “I began my career working for George H.W. Bush on the political side of the ledger,” Kelly said in an email exchange with Oil & Gas 360. “I also worked in state government for the governor of Tennessee, before moving to the private sector.” Most recently, Kelly served as t… Login or click here to subscribe

Source: Cameron LNG Media Kit

Sempra Energy Forges Agreement With McDermott And Chiyoda

Sempra Energy Media Statement On Cameron LNG Agreement With McDermott And Chiyoda

July 5, 2019 - 6:15 am Closing Bell Story, LNG, Natural Gas News, Press Releases
Source: Cameron LNG Media Kit

Cameron LNG Exports First Commissioning Cargo

By Tyler Losier, Energy Reporter, Oil & Gas 360 FERC authorization expected in mid-2019 Cameron LNG, owned in part by Sempra Energy (stock ticker: SRE) subsidiary Sempra LNG, has shipped its first commissioning cargo of liquefied natural gas from its project site in Hackberry, La. “This brings Cameron LNG, one of Sempra’s five strategically located LNG infrastructure projects, one step closer to commercial operations,” said Carlos Ruiz Sacristán, chairman and CEO of Sempra North American Infrastructure. Source: Cameron LNG The next step for the project, which to date has already taken approximately 11,000 workers 72 million manhours to complete, is Federal Energy Regulatory Commission (FERC) authorization. The company e… Login or click here to subscribe

Sempra Expects to Ship LNG Cargoes from Cameron within Weeks

Sempra Expects to Ship LNG Cargoes from Cameron within Weeks

President Trump gave energy infrastructure speech from Cameron LNG 12 MTPA Train 1 will allow export of approximately 1.7 Bcf/day from U.S. gas producers Sempra Energy (stock ticker: SRE) reported that it has begun producing liquefied natural gas (LNG) from the first liquefaction train of its Cameron LNG export project in Hackberry, Louisiana. Cameron LNG completed all major construction activities for Train 1 of the liquefaction-export project and began the commissioning and start-up process in November 2018. Last month, the facility began receiving gas flow for testing as it reached the final stage of the commissioning process. Phase 1 of the Cameron LNG export project includes the first three liquefaction trains that will enable… Login or click here to subscribe

North American West Coast LNG Export Project Checks a Box

North American West Coast LNG Export Project Checks a Box

Sempra Energy’s Energía Costa Azul LNG (ECA) receives U.S. Non-FTA approval for LNG export project In Baja Mexico – Authorizes the export of U.S. LNG from both ECA LNG Phase 1 and Phase 2 – Once project is operational, U.S. natural gas could arrive at Pacific Rim locations in 11 days Sempra Energy (stock ticker: SRE, $SRE) subsidiary Energía Costa Azul (ECA) LNG received two authorizations from the U.S. Department of Energy last week. The approvals allow Sempra LNG to export U.S. produced natural gas to Mexico and to re-export liquefied natural gas (LNG) to countries that do not have a free-trade agreement (non-FTA) with the U.S. The authorization applies to both Phase 1 and Phase 2 liquefaction-export facilities in development at the… Login or click here to subscribe

Sempra Energy Takes the LNG Bull by the Horns

Sempra Energy Takes the LNG Bull by the Horns

California Company Adds Executive Horsepower to Drive Growth of its North American LNG Export Business Sempra’s goal: to become one of North America’s largest developers of LNG export facilities By Bevo Beaven, Editor, Oil & Gas 360 You might know San Diego’s Sempra Energy (stock ticker: SRE, $SRE) as a power generating utility in Southern California, but think again. The company has 20,000-employees, chalked up $11.6 billion in revenue in 2018, and serves approximately 40 million consumers worldwide already, but it’s looking for more. And it sees liquefying and shipping out North America’s natural gas as a prime vehicle to get there. Cameron LNG is Sempra’s farthest along export project Sempra is the power behind the Cameron LNG… Login or click here to subscribe

March 19, 2019 - 5:25 pm Closing Bell Story, LNG, Oil and Gas 360 Articles
Sempra Energy to Sell 42 Bcf of NatGas Storage to ArcLight Capital Partners

Sempra Energy to Sell 42 Bcf of NatGas Storage to ArcLight Capital Partners

Sempra Energy Subsidiary To Sell U.S. Natural Gas Storage Assets To ArcLight Capital Partners

U.S. LNG Export Industry Sails Ahead

U.S. LNG Export Industry Sails Ahead

It’s been a busy month for U.S. liquefied natural gas (LNG) export developments. Just last week, Cheniere Energy, Inc. (stock ticker: LNG) exported the first LNG commissioning cargo from its Corpus Christi, Texas liquefaction facility. The export was the first from a greenfield liquefaction facility in the lower 48 states and indicates a larger trend in the U.S.-based LNG development process and exports going into 2021. Feds ease reporting requirement for LNG exports The U.S. Department of Energy also noted today that it would now only require U.S. LNG exporters to report the country or countries of LNG deliveries, not country of end-use, to satisfy the DOE’s destination reporting requirement. Further, the DOE will implement additio… Login or click here to subscribe

December 20, 2018 - 2:36 pm Closing Bell Story, LNG, Oil and Gas 360 Articles
Window is Closing for the U.S. to Become World LNG Leader, Sempra Energy Chief Strategy Officer Tells Congress

Window is Closing for the U.S. to Become World LNG Leader, Sempra Energy Chief Strategy Officer Tells Congress

U.S. opportunity may be closed for decades On June 26, the U.S. House of Representatives’ Energy & Commerce Committee held a hearing entitled “The Shifting Geopolitics of Oil & Gas.” The four energy sector experts who testified at the hearing included Sempra Energy (ticker: SRE) Chief Strategy Officer Dennis Arriola; Continental Resources (ticker: CLR) Chairman and CEO Harold Hamm; Dr. Kevin Kennedy, deputy director, U.S. Climate Initiative of the World Resources Institute; and IHS Markit (ticker: INFO) Vice Chairman Dr. Daniel Yergin. During the testimony, Sempra’s Arriola laid out a warning about a rapidly closing window that exists for U.S. LNG export plants to be developed for the much talked about U.S. LNG export boom to come to fruition. “As a result of two key developments — the U.S. shale energy boom and the growth in U.S. LNG export opportunities — the outlook for domestic and international natural gas markets[Read More…]

July 13, 2018 - 8:01 am Closing Bell Story, LNG, Oil and Gas 360 Articles
How Important is the American Shale Renaissance to the World?

How Important is the American Shale Renaissance to the World?

This is what happens when you turn the private sector loose to innovate, develop new technologies and improve efficiency Some interesting testimony came out of last week’s House of Representatives Energy & Commerce Committee hearing. The intention of the committee hearing was to update Congress on “The Shifting Geopolitics of Oil and Gas,” as the hearing title made clear. This committee oversees multiple cabinet-level departments and agencies, including the Department of Energy, the Federal Trade Commission, FCC, the Department of Transportation, and the EPA, among others. The hearing was held to examine how U.S. energy development—the shale boom—has affected jobs, the cost of energy, the U.S. economy and the U.S.’s position in global geopolitics. The experts who testified at the hearing included some familiar energy names—Sempra Energy (ticker: SRE) Chief Strategy Officer Dennis Arriola; Continental Resources (ticker: CLR) Chairman and CEO Harold Hamm; Dr. Kevin Kennedy, deputy director, U.S. Climate[Read More…]

Sempra Energy Appoints Vice President of Investor Relations

Sempra Energy Appoints Vice President of Investor Relations

Faisel H. Khan Appointed Vice President Of Investor Relations For Sempra Energy

Source: Cheniere

LNG and Steel: Tariffs Could Lower Competitiveness of U.S. NatGas Exports – Trade Group

Steel, aluminum tariffs take effect March 23 When Shell (ticker: RDS.A) released its 2018 LNG Outlook in late February, the global oil and gas major said that surging global LNG demand could lead to possible shortages in the Mid-2020s. Shell said based on current demand projections, it sees a potential for a supply shortage developing in mid-2020s, unless new LNG production project commitments are made soon. But right now, at least, there is no shortage of natural gas being produced by the U.S. The shale boom is back in full swing in Q1 2018. Even at today’s moderate natural gas prices, U.S. gas producers are drilling and producing more gas than ever. LNG export – global market for U.S. gas The U.S. LNG export industry, still in the nascent stages, is highly capital-intensive, with projects needing to pay for multi-billion-dollar export plants. Only two U.S. export facilities have been completed and[Read More…]

March 16, 2018 - 3:09 pm Closing Bell Story, LNG, Oil and Gas 360 Articles, Regulatory