With or without a still-pending federal approval for liquefied natural gas (LNG) exports to non-free trade agreement (FTA) nations, Sempra Energy is moving ahead with permit applications and engineering plans at its existing Cameron, LA, LNG import facility, Sempra executives said Tuesday.

While reporting decreased 3Q2012 earnings compared to 3Q2011, CEO Debra Reed reported taking a $60 million one-time charge for the write-down of the company’s 25% stake in the Rockies Express Pipeline, in addition to a $179 million charge taken in the second quarter. The 3Q2012 earnings were $268 million, or $1.09/share, compared with $289 million, or $1.20/share, for the same period last year.

Despite the pipeline charges, Reed described Sempra’s overall 3Q2012 operating performance as “solid” and pointed to various upsides going forward, including the company’s pursuit of two billion-dollar natural gas transmission pipeline projects in Mexico (see Daily GPI, Oct. 24) and growth in its California and South American utilities.

In response to analysts’ questions on LNG exports, both Reed and COO Mark Snell emphasized that they expect to move ahead with the Cameron project by 2014, regardless of the outcome of the pending study and permit approvals at the U.S. Department of Energy (DOE). Environmental review work, preliminary engineering and an application to build the export facilities, which would be filed with the Federal Energy Regulatory Commission (FERC), will be ready early next year, they said.

Snell emphasized that Sempra will continue its export terminal plans even if it fails to get DOE non-FTA approval, but the “project will be smaller, of course, only one or two trains” in the liquefaction facilities. He said non-FTA approvals are still expected early next year.

“All of the feedback we have gotten from FERC and DOE indicates we can expect to get this project fully permitted,” Snell said. “Even without the DOE permit, we would continue the project, but it would be smaller.”

In response to questioning on the Mexico operations, Reed said Sempra sees major projects, beyond two contracts the company’s Mexico unit won last month with the Comision Federal de Electricidad.

“Obviously, Mexico is depending so much on switching from an oil-based economy to one based more on natural gas,” Reed said. “Mexico is a real growth area for us.”

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