Sempra Energy reports strong 2014 earnings

Sempra Energy has reported a small increase in 2014 earnings of US$1.16 billion, compared with earnings of US$1 billion in 2013.

Sempra Energy's 4Q14 earnings increased to US$297 million, from US$282 million, in 2013. 

Debra L. Reed, Chairman and CEO of Sempra Energy, said: "We achieved excellent results in 2014 […] We delivered strong, year-over-year earnings growth and we advanced the Cameron LNG liquefaction-export facility and our other major infrastructure projects that are central to our five-year growth plan. We have made great progress toward achieving compound annual growth in earnings per share toward the upper end of our stated growth-rate range of 9% to 11% from 2014 through 2019." 

Sempra Natural Gas

In 4Q14, Sempra Natural Gas earned US$11 million, compared with US$9 million in 4Q13.

Sempra Natural Gas earned US$50 million in 2014, compared with US$64 million in 2013. In 2014, Sempra Natural Gas recognised a US$25 million tax benefit related to advancement of the Cameron LNG project. In 2013, Sempra Natural Gas recorded a US$44 million gain on the sale of a 625 MW block of the Mesquite Power facility.

Adapted from press release by Callum O'Reilly

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