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.

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LNG World News Staff; Image: Sempra Energy

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