LNG

Sempra Infrastructure, the owner of the Cameron LNG plant in Louisiana and with other LNG interests in the US and Mexico, has named Tania Ortiz Mena has President of the company.

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.

May 25 (LNGJ) - Infraestructura Energética Nova (IEnova), the Sempra Energy subsidiary in Mexico and owner of the Costa Azul LNG project, said Mexican Stock Exchange transactions had been completed on behalf of Sempra in the exchange offer launched on April 26, 2021. The transactions were to acquire all of the IEnova ordinary shares not owned directly or indirectly by Sempra in exchange for shares of Sempra common stock at an exchange ratio of 0.0323 shares of Sempra stock for each IEnova public share.

   The share offer in Mexico is part of a corporate overhaul to group all LNG operations in an infrastructure company. Sempra Energy’s direct and indirect ownership interest in the IEnova stock increased from 70.2 percent to 96.4 percent of the total outstanding IEnova shares. “The remaining 3.6 percent of the outstanding IEnova shares continue to be held by public investors and are traded on the Mexican Stock Exchange,” said IEnova.

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.