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Market: NYSE
Sector: Oil & Gas Exploration & Production
EPIC: SRE
Latest Price: 64.04  (0.95% Ascending)
52-week High: 65.06
52-week Low: 45.59
Market Cap: 15,433.10M
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Sempra Energy
www.sempra.com

Sempra Energy is a Fortune 500 energy services holding company with 2008 revenues of nearly $11 billion. The Sempra Energy companies' 13,600 employees serve more than 29 million consumers worldwide.

Sempra Energy adds second LNG facility in North America

30th Jul 2009, 3:23 pm
Sempra Energy adds second LNG facility in North America

Fortune 500 energy services holding Sempra Energy (NYSE: SRE) has added a second LNG (liquefied natural gas) receipt terminal in North America to boost its capacity to serve customers in both the Atlantic and Pacific markets.


The Cameron LNG terminal near Lake Charles, Louisiana, fully owned by Sempra LNG, has undergone start-up and commissioning activities over the past month, winning the Federal Energy Regulatory Commission’s approval to start operations. Sempra Energy’s subsidiary Sempra LNG today announced its fully operational status.


"With today's announcement, our LNG business now has two fully operational North American receipt terminals with the unique ability to serve suppliers in both the Atlantic and Pacific markets. This is a business supported by long term contracts that will provide shareholders with predictable cash flows well into the future," said Sempra Energy CEO Donald E. Felsinger.


The company has sold 40 percent of the facility’s processing capacity to Italian oil and gas company Eni S.p.A. under a 20 year terminal services agreement. Sempra has also signed a deal to buy up to 50 cargoes from an affiliate of RasGas Company Limited an LNG supplier.


The Cameron LNG facility is capable of processing 1.5 billion cubic feet of LNG per day (bcf/d) and will complement Sempra’s other LNG receipt terminal in Baja, California, which has the capacity of 1.0 bcf/d.


Sempra Energy climbed 1% on NYSE following the release of the news this morning.

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