Sempra Q1 profit up, LNG affected by lower prices
Sempra Natural Gas, a part of Sempra Energy, reported first-quarter earnings of US$2 million, down from US$9 million in the same period a year ago.
This was due primarily to lower LNG earnings resulting from lower natural gas prices and LNG liquefaction development expense, Sempra said in a statement on Tuesday.
However, Sempra Energy’s first-quarter earnings rose to US$437 million, as compared with US$247 million in the same period a year ago.
The company is involved in the development of three potential liquefaction projects, two in the U.S. and one in Mexico.
LNG World News Staff; Image: Sempra Energy