Sempra Energy Stock Price, News & Analysis

Sempra Infrastructure and Korea Gas Corporation (KOGAS) have signed a memorandum of understanding (MOU) to collaborate on projects aimed at advancing the global energy transition towards lower-carbon and zero-carbon fuels. The MOU outlines potential joint efforts in liquefied natural gas (LNG), carbon capture, and hydrogen infrastructure. While the partnership reflects a commitment to decarbonization, it remains non-binding and subject to various risks, including regulatory approvals and investment decisions. Sempra is focused on developing energy solutions in North America.

Sempra (NYSE: SRE) announced the appointment of Glen Donovan as vice president of investor relations, effective April 2, 2022. This follows the promotion of Manuela "Nelly" Molina to vice president of audit services. Donovan, who has held multiple leadership roles within Sempra, including overseeing LNG and net-zero projects, will leverage his experience to enhance communication with shareholders. The company's commitment to sustainability and energy transition is highlighted as Donovan takes on this critical position.

Sempra (NYSE: SRE) and TotalEnergies are enhancing their North American alliance with two MOUs, focusing on the proposed Vista Pacífico LNG project in Mexico and an offshore wind project in California. The Vista Pacífico project may involve TotalEnergies contracting for around one-third of its LNG output and potentially investing as a minority equity partner. The second MOU aims for Sempra to acquire a stake in TotalEnergies' wind project and vice versa. The projects hinge on regulatory approvals and definitive agreements, emphasizing the importance of energy partnerships for security and sustainability.

Southern California Gas Co. (SoCalGas) announced its commitment to sustainability by installing over 240 electric vehicle (EV) chargers this year, with plans for a total of 1,500 chargers by 2024. The utility aims to replace 50% of its fleet with clean fuel vehicles by 2025 and achieve a 100% zero-emission fleet by 2035. Recently, SoCalGas purchased 50 Toyota Mirai hydrogen fuel cell vehicles and is converting 200 Ford F-250 trucks to renewable natural gas. These initiatives align with California's climate goals and the Paris Agreement for a net zero emissions target by mid-century.

San Diego Gas & Electric has announced the completion of a new energy storage facility in Kearny Mesa, adding a 20MW/80MWh capacity that can power about 13,000 homes for four hours. This facility, part of SDG&E's efforts to enhance grid reliability and support California's goal of 100% carbon-free electricity, features advanced lithium-ion phosphate batteries. The Kearny facility joins the previously completed Top Gun Energy Storage project, contributing to a total of 145 MW of owned storage expected by year-end. CEO Caroline Winn emphasizes the importance of these projects for climate goals.

Sempra (NYSE: SRE) issued a statement applauding the establishment of a Task Force on Energy Security, announced by President Biden and European Commission President Von der Leyen. The company expresses support for European energy security and sustainability goals, highlighting its commitment to collaborate with U.S. Administration to increase LNG supply. As of 2021, Sempra holds over $72 billion in assets and serves nearly 40 million consumers across North America, showcasing its role in the global energy transition towards cleaner energy sources.

Southern California Gas Co. (SRE) achieved a record spending of $972.6 million with over 570 diverse business enterprises in 2021, representing over 42% of total procurement, exceeding the state's goal for the 29th consecutive year. Notable increases include a 49% rise in spending with African American vendors. The company plans to raise diverse supplier spending to 45% by 2025 and has committed $50 million over the next five years to support underserved communities. These efforts are part of SoCalGas' broader sustainability strategy aiming for net-zero emissions by 2045.

Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE), has received a credit rating upgrade from Fitch Ratings. The rating for its Mexico subsidiary was upgraded from 'BBB' to 'BBB+', with a stable outlook. This upgrade is attributed to the company's stable cash flows and competitive position in Mexico's energy infrastructure. The improvement strengthens Sempra's financial position to pursue growth and investment strategies in North America. Tania Ortiz Mena, group president, noted the upgrade reflects confidence in their platform and capacity to support economic growth through energy infrastructure.

Southern California Gas Co. (SoCalGas) has released the latest edition of EMPOWER Magazine, showcasing its commitment to social impact through diversity, equity, and inclusion. The magazine emphasizes partnerships with non-profits like the Los Angeles Urban League to enhance workforce development in underserved communities. SoCalGas plans to invest $50 million over five years and highlighted its contributions of over $9 million to approximately 900 non-profits last year. The company also aims for a 45% diverse spending by 2025, reflecting its sustainability and social justice objectives.