USA: Sempra Natural Gas Q2 Earnings Up
Sempra Energy said that Sempra Natural Gas had earnings of $9 million in the second quarter 2013, compared with a loss of $193 million in the second quarter 2012, which included a $179 million impairment charge on the Rockies Express Pipeline.
The increase in 2013 was due primarily to improved earnings from liquefied natural gas and gas storage operations because of changes in natural gas prices.
For the first six months of 2013, Sempra Natural Gas had earnings of $62 million, compared with a loss of $192 million in the first half of 2012, which included last year’s impairment charge on the Rockies Express Pipeline.
Earnings in the first six months of 2013 included a $44 million first-quarter gain on the sale of half of the Mesquite Power plant.