Sempra Sees Decision on New Cameron LNG Train in Louisiana in 2023

(Reuters) — U.S. energy company Sempra Energy said on Thursday that the venture that owns the Cameron LNG plant in Louisiana remains on track to make a final investment decision in 2023 to build a new liquefaction train at the plant.

Sempra said in its first quarter earnings release that Cameron LNG plans to complete development work on the fourth liquefaction train in the summer of 2023 and expects the company "to be in a position to make a final investment decision thereafter."

Separately, the company said its Sempra Infrastructure Partners unit entered into a non-binding agreement with TotalEnergies SE for Sempra's Vista Pacífico LNG project under development in Mexico.

The Vista Pacífico agreement contemplates TotalEnergies contracting for approximately one-third of the long-term export production, as well as TotalEnergies' participation as a minority equity investor in the project. 

Sempra said it expects to close the sale of a non-controlling 10% interest in Sempra Infrastructure to a subsidiary of Abu Dhabi Investment Authority for $1.785 billion in cash in the second quarter, subject to customary closing adjustments and conditions.

Upon closing, Sempra said it will own a 70% controlling interest in Sempra Infrastructure.

In other LNG news, Japanese officials meeting in Washington on Thursday are expected to propose new investment in existing U.S. LNG plants. 

Several Japanese companies are already partners in Cameron LNG, including units of Mitsui & Co., Mitsubishi Corp. and Nippon Yusen KK (NYK Line).

In addition to its stake in Cameron LNG, Sempra Infrastructure and partners are building an LNG export plant at its Costa Azul LNG import plant in Mexico and are developing LNG export projects at Port Arthur in Texas and Vista Pacifico in Mexico. 

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