Sempra reports developments for a North American energy infrastructure company centered on regulated utility networks in California and Texas. Recurring news includes Sempra earnings, operational and financial results from Oncor, and updates from Southern California Gas Company and San Diego Gas & Electric on natural gas delivery, underground storage, grid reliability, customer affordability and energy resilience.
Company updates also cover utility capital plans, rate and regulatory mechanisms, customer growth, preferred dividend actions at SoCalGas, and capital-structure activity tied to financing energy infrastructure across Sempra's utility businesses.
Sempra Infrastructure has signed a long-term sale and purchase agreement with RWE Supply & Trading for the supply of approximately 2.25 million tonnes per annum of liquefied natural gas (LNG) from the Port Arthur LNG Phase 1 project in Texas. The agreement covers a 15-year term and aims to reduce carbon intensity in LNG production. With nearly all Phase 1 capacity now contracted, the project is on track for a final investment decision in Q1 2023, with first deliveries expected in 2027. The project is designed to produce up to 13.5 Mtpa of LNG.
Sempra Infrastructure has obtained authorization from the U.S. Department of Energy (DOE) to re-export liquefied natural gas (LNG) from Mexico to non-Free Trade Agreement (FTA) nations, marking a significant milestone for its projects. The Vista Pacifico LNG will export up to 200 billion cubic feet per year, while ECA LNG Phase 2 is permitted to re-export 636 billion cubic feet per year. These projects aim to enhance energy security and create jobs, with commercial operations expected to start in 2025 for ECA LNG Phase 1.
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San Diego Gas & Electric (SDG&E) has achieved 20% fleet electrification and aims for a fully electric fleet by 2030, supporting California's net zero emissions goal by 2045. The addition of eight fully electric Ford F-150 Lightning trucks marks a significant step toward its commitment to a zero-emissions fleet by 2035. SDG&E is using advanced analytics through its Community Impact Platform to prioritize vehicle replacements in highly polluted areas, concurrently expanding charging infrastructure with over 3,400 charging ports installed.
Sempra (NYSE: SRE) has been recognized as the highest-ranked utility in the Wall Street Journal's Management Top 250 for 2022, marking its fourth inclusion and second consecutive year at the top. The ranking assesses corporate effectiveness based on 34 metrics, covering customer satisfaction, employee engagement, and financial strength among others. CEO Jeffrey W. Martin highlighted the role of their 20,000 employees in this achievement, emphasizing Sempra's commitment to sustainable business practices and the energy transition. With over $72 billion in total assets, Sempra aims to deliver long-term value through its growth platforms in North America.
The California Public Utilities Commission (CPUC) has approved SoCalGas' request to track costs for the Angeles Link project, a proposed green hydrogen pipeline system aimed at decarbonizing Los Angeles' energy use. This initiative could be the largest of its kind in the U.S. and is expected to deliver renewable energy, cutting greenhouse gas emissions significantly across various sectors. SoCalGas is set to conduct a feasibility study and is collaborating with federal authorities for funding opportunities.
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Southern California Gas Co. (SoCalGas) has received the Sustainable Innovation Award from the U.S. Green Building Council - Los Angeles for its [H2] Innovation Experience project in Downey, California. Recognized for its commitment to sustainability, this microgrid project integrates clean hydrogen production and storage with renewable energy sources, demonstrating potential for reliable energy solutions. SoCalGas aims for net-zero greenhouse gas emissions by 2045 and has previously won accolades for transformative sustainability measures in the energy sector.
Sempra Infrastructure has entered a long-term sale and purchase agreement with ENGIE S.A. for the supply of liquefied natural gas (LNG) from the Port Arthur LNG Phase 1 project in Texas. ENGIE will purchase approximately 0.875 million tonnes per annum of LNG for 15 years. The deal emphasizes reducing the carbon intensity of LNG through ESG compliance. With existing agreements for 6.4 Mtpa of LNG, Sempra aims for a final investment decision by Q1 2023. The Port Arthur project is poised to produce 13.5 Mtpa of LNG under optimal conditions.
Sempra Infrastructure has announced a long-term sale and purchase agreement with INEOS for the supply of approximately 1.4 million tonnes per annum (Mtpa) of liquefied natural gas (LNG) from its Port Arthur LNG Phase 1 project in Texas. The agreement spans 20 years and includes a non-binding heads of agreement for an additional 0.2 Mtpa from Phase 2. The project aims for first cargo deliveries in 2027, with a total production capacity of up to 13.5 Mtpa.