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- Sempra Infrastructure, a unit of Sempra Energy SRE, is reportedly moving forward with a project to build a natural-gas export terminal on the U.S. Gulf Coast by early next year.
- The project is the first phase of Port Arthur LNG, Wall Street Journal reported citing people familiar with the matter.
- The project is a roughly $10.5 billion export facility in South Texas that would start delivering cargo around 2027.
- The project will produce up to about 13.5 million metric tons of LNG annually.
- Sempra Infrastructure is now targeting a final investment decision for Phase 1 of its Port Arthur LNG project in Q1 of 2023.
- Cheniere Energy Inc LNG and Venture Global LNG approved two projects to develop export terminals in Texas and Louisiana earlier this year.
- Combined with Port Arthur LNG, those projects will add about 37 million metric tons of LNG a year to global supplies starting in 2025—roughly half the current U.S. export capacity, according to the companies and federal data.
- Earlier today, Sempra reported Q3 adjusted EPS of $1.97, better than $1.70 a year ago, beating the consensus of $1.85.
- Sales of $3.62 billion came in above the estimated $3.36 billion.
- Sempra raised FY22 adjusted EPS guidance to $8.70-$9.00 from $8.10-$8.70 versus the consensus of $8.66.
- Price Action: SRE shares are up 0.99% at $152.03 on the last check Thursday.
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