Sempra to sell minority stake in Sempra Infrastructure
Sempra is initiating a process to sell a minority interest in Sempra Infrastructure, which is one of the leading energy infrastructure platforms in North America with a market leadership position in LNG assets and related pipeline and storage infrastructure. The proposed sale follows Sempra's previous divestiture of a 20% non-controlling interest in 2021 to Kohlberg Kravis Roberts & Co. L.P. for an implied equity value of approximately US$16.9 billion. That transaction was followed by a second sale of a non-controlling interest of 10% in 2022 to the Abu Dhabi Investment Authority for an implied equity value of approximately US$17.9 billion.
Since that time, Sempra Infrastructure has continued to increase its market value through the expansion of its LNG franchise, which enjoys geographic advantages on both the Pacific and Gulf Coasts of North America. For instance, Energía Costa Azul LNG Phase 1 continues to target the commencement of commercial operations in spring of 2026, and construction at Port Arthur LNG Phase 1 remains on time and on budget with Trains 1 and 2 expected to come online in 2027 and 2028, respectively.
Moreover, the company continues to advance development of Port Arthur LNG Phase 2, which is receiving strong commercial interest. Sempra Infrastructure is under active commercial discussions with world-class companies for participation in the Phase 2 development project, which is anchored by a non-binding heads of agreement for LNG offtake and a proposed equity investment with a subsidiary of Saudi Aramco, as well as a fixed-price engineering, procurement and construction contract with Bechtel Energy. The company is targeting a final investment decision in 2025, pending the execution of definitive commercial agreements, obtaining permits and securing financing, among other factors.
“At Sempra Infrastructure, we are pursuing a series of exciting LNG growth opportunities that are expected to further America's position as a global leader in LNG exports,” said Justin Bird, CEO of Sempra Infrastructure. “By focusing on the critical need for new energy infrastructure in North America, our company's pipeline of development projects is expected to provide benefits to a broader base of customers and differentiated growth for decades to come.”
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/01042025/sempra-to-sell-minority-stake-in-sempra-infrastructure/
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