Sempra Energy reports earnings rise in Q2 2014

Sempra Energy has reported second quarter 2014 earnings of US$ 269 million, up from 2013 quarter earnings of US$ 245 million.

Sempra Energy’s earnings for the first six months of 2014 increased to US$ 516 million, from US$ 423 million in H1 2013.

Comments

Commenting on the results, Chairman and CEO, Debra L. Reed, said: “Our financial performance in the second quarter and first half of 2014 was strong and consistent with our full-year earnings guidance.

“Additionally, we have made significant progress on several of our key projects. With permitting nearly complete for the Cameron LNG liquefaction-export project, we and our partners have made the final investment decision to proceed and we plan to break ground later this year.”

Cameron LNG project

On 6 August, affiliates of Sempra Energy, Mitsubishi Corporation, Mitsui & Co., and GDF Suez, executed financing documents and completed the final investment decision to proceed with the Cameron LNG liquefaction-export project.

The three-train liquefaction facility in Hackberry, Louisiana, will provide an export capacity of 12 million tpa of LNG. Cameron LNG received authorisation from the FERC on 19 June to site, construct and operate the facility.

Sempra Natural Gas

Earnings for Sempra Natural Gas in the quarter were US$ 4 million, compared with US$ 9 million in Q2 2013. For the first six months of 2014, Sempra Natural Gas had earnings of US$ 13 million, compared with US$ 62 million in H1 2013.

Adapted from press release by Katie Woodward

Read the article online at: https://www.lngindustry.com/liquefaction/08082014/sempra-energy-reports-rise-in-earnings-q2-2014-1169/