LNG

Sempra Energy has completed its final move in making Mexican subsidiary Infraestructura Energética Nova (IEnova) a private company by buying up all its publicly-held shares and clearing the way for the creation of the new Sempra North American LNG and gas platform.

July 16 (LNGJ) - BP Gas Marketing is scheduled to deliver an LNG cargo on July 16 with purchased carbon offsets to the Sempra Energy-controlled terminal at Costa Azul on the Pacific Coast of Mexico. The facility is currently undergoing work to be transformed into an export plant. “Sempra LNG continues to build a strong business portfolio focused on sustainability and the global energy transition,” said Justin Bird, Chief Executive of Sempra LNG.

Infraestructura Energética Nova (IEnova), the subsidiary in Mexico of Cameron LNG plant owner Sempra Energy and with plans for Mexican LNG production, reported a third-quarter increase in earnings.

Infraestructura Energetica Nova (IEnova), the Mexican subsidiary of Sempra Energy of the US, maintained earnings level because of the South Texas-Tuxpan natural gas pipeline as its Costa Azul LNG project was pushed back.

Two of the main US export projects on Gulf Coast of Texas, Rio Grande LNG and Port Arthur LNG, as well as the Costa Azul venture in Mexico, are heading for delays of at least a year.

IEnova, the Mexican subsidiary of California-based utility Sempra Energy and developer of the Costa Azul liquefied natural export venture on the Pacific Coast of Mexico, reported a rise in four-quarter earnings as it pursues Mexican pipeline projects and LNG feed-gas resources from the US.

IEnova, the Mexican subsidiary of California-based utility Sempra Energy and developer of the Costa Azul LNG export terminal on the Pacific Coast of Mexico, said third-quarter earnings declined, though it expected future profits from the commercial start-up of the new natural gas pipeline from Texas to Mexico.