We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Sempra Gets DoE Nod to Increase Cameron's Export Capacity
Read MoreHide Full Article
Sempra Energy (SRE - Free Report) has received approval from the U.S. Department of Energy (“DoE”) to increase the export capacity of the Cameron LNG facility, located near the Gulf Coast of Louisiana, to countries that have a non-free trade agreement with the U.S.
Sempra Energy will now be able to expand Cameron LNG’s export capacity by 1.41 billion cubic feet of natural gas per day (“Bcfd”) under the proposed Louisiana liquefaction expansion project. As a result, Cameron LNG's export capacity will come to 24.92 million tons per annum or 3.53 Bcfd.
The DoE’s decision followed an approval by the Federal Energy Regulatory Commission to build and operate the proposed Louisiana expansion project. The proposed project will consist of up to two extra liquefaction trains (Trains No. 4 and No. 5) and an additional full containment LNG storage tank (Tank No. 5).
The proposed project, valued at $10 billion, will be located next to the Cameron LNG terminal and liquefaction facilities. Note that the company had received the green light for the construction of these facilities in 2014 in Hackberry, LA. The first phase of the Cameron LNG liquefaction project (Trains No. 1–3) is currently under construction. It is expected to begin operations in 2018.
The expansion project is contingent up on implementing certain commercial agreements, obtaining the required consents and authorizations, securing funding and reaching a final investment decision among others.
We remind investors that the Cameron LNG project is a joint venture between Sempra Energy, Mitsui and Mitsubishi of Japan, and France-based ENGIE. All of these companies have signed a 20-year contract to supply LNG to customers across the globe.
According to Octavio M.C. Simoes, Sempra LNG & Midstream’s president, the DoE's approval marks a step toward the completion of the Cameron LNG expansion project. The company has already obtained all the necessary approvals and licenses. In fact, Simoes also believes that the project will be able to offer extremely competitive prices as well as lucrative offers to its customers.
Sempra Energy is a southern California-based energy services holding company involved in the sale, distribution, storage and transportation of electricity and natural gas. The company has been involved in the business of “liquefaction”, the process of cooling natural gas to -260 degrees Fahrenheit and condensing it into the liquid form, for the past 16 years.
Sempra Energy currently has a Zacks Rank #4 (Sell).
Stocks to Consider
A few better-ranked stocks in the same industry include Just Energy Group Inc. , ONE Gas, Inc. (OGS - Free Report) and Chesapeake Utilities Corporation (CPK - Free Report) . While Just Energy sports a Zacks Rank #1 (Strong Buy), both ONE Gas and Chesapeake carry a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Sempra Gets DoE Nod to Increase Cameron's Export Capacity
Sempra Energy (SRE - Free Report) has received approval from the U.S. Department of Energy (“DoE”) to increase the export capacity of the Cameron LNG facility, located near the Gulf Coast of Louisiana, to countries that have a non-free trade agreement with the U.S.
Sempra Energy will now be able to expand Cameron LNG’s export capacity by 1.41 billion cubic feet of natural gas per day (“Bcfd”) under the proposed Louisiana liquefaction expansion project. As a result, Cameron LNG's export capacity will come to 24.92 million tons per annum or 3.53 Bcfd.
The DoE’s decision followed an approval by the Federal Energy Regulatory Commission to build and operate the proposed Louisiana expansion project. The proposed project will consist of up to two extra liquefaction trains (Trains No. 4 and No. 5) and an additional full containment LNG storage tank (Tank No. 5).
SEMPRA ENERGY Price
SEMPRA ENERGY Price | SEMPRA ENERGY Quote
The proposed project, valued at $10 billion, will be located next to the Cameron LNG terminal and liquefaction facilities. Note that the company had received the green light for the construction of these facilities in 2014 in Hackberry, LA. The first phase of the Cameron LNG liquefaction project (Trains No. 1–3) is currently under construction. It is expected to begin operations in 2018.
The expansion project is contingent up on implementing certain commercial agreements, obtaining the required consents and authorizations, securing funding and reaching a final investment decision among others.
We remind investors that the Cameron LNG project is a joint venture between Sempra Energy, Mitsui and Mitsubishi of Japan, and France-based ENGIE. All of these companies have signed a 20-year contract to supply LNG to customers across the globe.
According to Octavio M.C. Simoes, Sempra LNG & Midstream’s president, the DoE's approval marks a step toward the completion of the Cameron LNG expansion project. The company has already obtained all the necessary approvals and licenses. In fact, Simoes also believes that the project will be able to offer extremely competitive prices as well as lucrative offers to its customers.
Sempra Energy is a southern California-based energy services holding company involved in the sale, distribution, storage and transportation of electricity and natural gas. The company has been involved in the business of “liquefaction”, the process of cooling natural gas to -260 degrees Fahrenheit and condensing it into the liquid form, for the past 16 years.
Sempra Energy currently has a Zacks Rank #4 (Sell).
Stocks to Consider
A few better-ranked stocks in the same industry include Just Energy Group Inc. , ONE Gas, Inc. (OGS - Free Report) and Chesapeake Utilities Corporation (CPK - Free Report) . While Just Energy sports a Zacks Rank #1 (Strong Buy), both ONE Gas and Chesapeake carry a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>